Rosenblatt Securities Reaffirms “Buy” Rating for Bentley Systems (NASDAQ:BSY)

Bentley Systems (NASDAQ:BSY – Get Free Report)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a report issued on Tuesday, Benzinga reports. They currently have a $50.00 target price on the stock. Rosenblatt Securities‘s target price would indicate a potential upside of 27.16% from the company’s previous close.

A number of other equities analysts have also weighed in on BSY. Cantor Fitzgerald upped their target price on shares of Bentley Systems from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, October 16th. BMO Capital Markets upped their target price on shares of Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Weiss Ratings upgraded Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 19th. Finally, Piper Sandler reiterated an “overweight” rating and set a $45.00 target price on shares of Bentley Systems in a research report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.77.

Get Our Latest Research Report on BSY

Bentley Systems Price Performance

Shares of NASDAQ:BSY traded down $0.52 during midday trading on Tuesday, reaching $39.32. 1,745,062 shares of the company were exchanged, compared to its average volume of 2,835,620. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The business’s fifty day moving average is $34.63 and its two-hundred day moving average is $34.40. Bentley Systems has a one year low of $28.08 and a one year high of $52.24. The stock has a market cap of $11.43 billion, a PE ratio of 43.21, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99.

Bentley Systems (NASDAQ:BSY – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The firm had revenue of $410.73 million during the quarter, compared to analyst estimates of $412.12 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. Bentley Systems’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts predict that Bentley Systems will post 1.21 earnings per share for the current year.

Insider Activity at Bentley Systems

In other news, Director Raymond Bentley sold 139,135 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $40.05, for a total transaction of $5,572,356.75. Following the completion of the transaction, the director directly owned 14,660,607 shares in the company, valued at approximately $587,157,310.35. This represents a 0.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.27% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

Several institutional investors have recently modified their holdings of BSY. Robeco Schweiz AG lifted its stake in shares of Bentley Systems by 66.3% in the 3rd quarter. Robeco Schweiz AG now owns 758,586 shares of the company’s stock valued at $24,237,000 after purchasing an additional 302,346 shares during the last quarter. Middleton & Co. Inc. MA lifted its stake in shares of Bentley Systems by 12.8% in the 3rd quarter. Middleton & Co. Inc. MA now owns 20,977 shares of the company’s stock valued at $670,000 after purchasing an additional 2,382 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Bentley Systems by 0.7% in the 3rd quarter. Yousif Capital Management LLC now owns 41,229 shares of the company’s stock valued at $1,317,000 after purchasing an additional 298 shares during the last quarter. Vest Financial LLC lifted its stake in shares of Bentley Systems by 10.2% in the 3rd quarter. Vest Financial LLC now owns 20,988 shares of the company’s stock valued at $671,000 after purchasing an additional 1,937 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its stake in shares of Bentley Systems by 1.6% in the 3rd quarter. Diversify Advisory Services LLC now owns 20,930 shares of the company’s stock valued at $669,000 after purchasing an additional 327 shares during the last quarter. 44.16% of the stock is owned by institutional investors.

About Bentley Systems

(Get Free Report)

Bentley Systems, Incorporated is a software company that develops solutions for the design, construction, and operation of infrastructure. Its customers include engineers, architects, geospatial professionals, construction firms, and infrastructure owner-operators in sectors such as transportation, water, utilities, industrial facilities, and buildings.

The company’s product portfolio includes MicroStation for infrastructure design, ProjectWise for project collaboration, AssetWise for asset performance and operations, and SYNCHRO for construction management.

See Also

Analyst Recommendations for Bentley Systems (NASDAQ:BSY)

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