Bentley Systems (NASDAQ:BSY) Receives New Coverage from Analysts at William Blair

Equities researchers at William Blair assumed coverage on shares of Bentley Systems (NASDAQ:BSY) in a research report issued on Thursday, Briefing.com reports. The brokerage set an “outperform” rating on the stock.

A number of other research analysts have also issued reports on BSY. Piper Sandler restated an “overweight” rating and set a $60.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, February 28th. Rosenblatt Securities raised shares of Bentley Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $54.00 to $60.00 in a report on Monday, February 26th. Finally, Robert W. Baird upped their price objective on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Two analysts have rated the stock with a hold rating and eight have given 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 a consensus target price of $58.44.

Bentley Systems Trading Up 1.0 %

Shares of Bentley Systems stock opened at $51.58 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72. Bentley Systems has a 12-month low of $40.89 and a 12-month high of $55.37. The firm has a market capitalization of $14.74 billion, a price-to-earnings ratio of 52.10, a PEG ratio of 5.11 and a beta of 1.10. The firm’s 50 day simple moving average is $50.84 and its two-hundred day simple moving average is $50.69.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The business had revenue of $310.64 million for the quarter, compared to analyst estimates of $313.67 million. During the same quarter in the prior year, the business posted $0.13 EPS. Bentley Systems’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts predict that Bentley Systems will post 0.83 EPS for the current year.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 88,925 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the sale, the director now directly owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 21.74% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DnB Asset Management AS lifted its holdings in Bentley Systems by 0.7% during the third quarter. DnB Asset Management AS now owns 30,086 shares of the company’s stock valued at $1,509,000 after purchasing an additional 197 shares in the last quarter. M&T Bank Corp lifted its holdings in Bentley Systems by 0.4% during the third quarter. M&T Bank Corp now owns 57,456 shares of the company’s stock valued at $2,882,000 after purchasing an additional 218 shares in the last quarter. Wealthfront Advisers LLC lifted its holdings in Bentley Systems by 1.9% during the third quarter. Wealthfront Advisers LLC now owns 12,108 shares of the company’s stock valued at $607,000 after purchasing an additional 228 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in Bentley Systems by 43.6% during the first quarter. Belpointe Asset Management LLC now owns 757 shares of the company’s stock valued at $33,000 after purchasing an additional 230 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its holdings in Bentley Systems by 1.0% during the second quarter. Kestra Advisory Services LLC now owns 23,515 shares of the company’s stock valued at $1,275,000 after purchasing an additional 239 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Company Profile

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.