Piper Sandler Lowers Bentley Systems (NASDAQ:BSY) Price Target to $57.00

Bentley Systems (NASDAQ:BSY) had its target price decreased by Piper Sandler from $65.00 to $57.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 21.95% from the company’s current price.

Several other equities analysts have also issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a report on Friday, November 8th. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.29.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $46.74 on Wednesday. The company has a market cap of $13.59 billion, a PE ratio of 42.11, a price-to-earnings-growth ratio of 4.04 and a beta of 1.04. Bentley Systems has a 52 week low of $43.82 and a 52 week high of $57.19. The business has a 50 day moving average price of $48.19 and a 200-day moving average price of $48.94. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $335.17 million during the quarter, compared to the consensus estimate of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 earnings per share. Equities analysts anticipate that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Bentley Systems

In other news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $49.44, for a total value of $2,472,000.00. Following the completion of the transaction, the director now directly owns 12,098,235 shares of the company’s stock, valued at $598,136,738.40. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Bentley sold 69,573 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the transaction, the director now directly owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,573 shares of company stock valued at $10,712,472. Company insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

A number of large investors have recently made changes to their positions in BSY. Impax Asset Management Group plc bought a new position in shares of Bentley Systems in the third quarter worth $88,771,000. Swedbank AB raised its position in shares of Bentley Systems by 24.2% in the third quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock worth $260,874,000 after buying an additional 1,000,000 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Bentley Systems in the third quarter worth $42,773,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Bentley Systems by 3.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock worth $778,832,000 after buying an additional 586,458 shares in the last quarter. Finally, Creative Planning raised its position in shares of Bentley Systems by 67.9% in the second quarter. Creative Planning now owns 1,091,058 shares of the company’s stock worth $53,855,000 after buying an additional 441,316 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.