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

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

Other equities research analysts have also issued research reports about the company. Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Friday, November 8th. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a research report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.29.

Bentley Systems Price Performance

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

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

Insider Activity

In other news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 12,098,235 shares of the company’s stock, valued at $598,136,738.40. The trade was a 0.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Bentley sold 69,573 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were 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 in the company, valued at $779,623,656.76. This represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,573 shares of company stock valued at $10,712,472 in the last ninety days. 21.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC raised its stake in Bentley Systems by 1.5% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock worth $779,000 after buying an additional 220 shares during the period. Magnolia Capital Advisors LLC raised its stake in Bentley Systems by 5.4% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company’s stock worth $242,000 after buying an additional 249 shares during the period. Central Pacific Bank Trust Division raised its stake in Bentley Systems by 57.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after buying an additional 276 shares during the period. Cetera Investment Advisers raised its stake in Bentley Systems by 1.1% during the 2nd quarter. Cetera Investment Advisers now owns 31,449 shares of the company’s stock worth $1,552,000 after buying an additional 352 shares during the period. Finally, CIBC Asset Management Inc raised its stake in Bentley Systems by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock worth $468,000 after buying an additional 378 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

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.