Bentley Systems (NASDAQ:BSY) Hits New 1-Year High at $47.08

Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating) reached a new 52-week high on Monday . The stock traded as high as $47.08 and last traded at $46.96, with a volume of 95218 shares. The stock had previously closed at $46.06.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BSY shares. Mizuho lifted their price objective on shares of Bentley Systems from $45.00 to $51.00 in a research report on Wednesday, May 10th. Royal Bank of Canada lifted their price objective on shares of Bentley Systems from $47.00 to $53.00 in a research report on Wednesday, May 10th. Rosenblatt Securities cut shares of Bentley Systems from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $43.00 to $47.00 in a research report on Wednesday, May 10th. The Goldman Sachs Group lowered shares of Bentley Systems from a “buy” rating to a “neutral” rating and lifted their target price for the company from $45.00 to $47.00 in a research note on Thursday, May 11th. Finally, Griffin Securities raised shares of Bentley Systems from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Wednesday, May 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and a consensus target price of $50.78.

Bentley Systems Stock Performance

The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.60 and a current ratio of 0.60. The firm’s 50 day moving average is $42.87 and its 200-day moving average is $40.18. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of 90.94, a price-to-earnings-growth ratio of 8.31 and a beta of 1.20.

Bentley Systems (NASDAQ:BSY – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Bentley Systems had a net margin of 14.40% and a return on equity of 38.40%. The business had revenue of $287.00 million during the quarter, compared to analyst estimates of $280.85 million. During the same quarter in the previous year, the business earned $0.18 EPS. Bentley Systems’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.67 earnings per share for the current fiscal year.

Insider Activity at Bentley Systems

In related news, CEO Gregory S. Bentley sold 129,691 shares of Bentley Systems stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $45.59, for a total value of $5,912,612.69. Following the completion of the sale, the chief executive officer now owns 8,136,962 shares of the company’s stock, valued at approximately $370,964,097.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Bentley Systems news, Director Barry J. Bentley sold 50,830 shares of the business’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $42.51, for a total transaction of $2,160,783.30. Following the completion of the transaction, the director now owns 12,594,258 shares of the company’s stock, valued at approximately $535,381,907.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory S. Bentley sold 129,691 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $45.59, for a total transaction of $5,912,612.69. Following the transaction, the chief executive officer now directly owns 8,136,962 shares of the company’s stock, valued at approximately $370,964,097.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 295,698 shares of company stock valued at $13,083,953. Insiders own 22.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in shares of Bentley Systems by 261.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 658 shares of the company’s stock worth $28,000 after purchasing an additional 476 shares during the period. Machina Capital S.A.S. bought a new position in shares of Bentley Systems during the 1st quarter worth about $30,000. Belpointe Asset Management LLC increased its holdings in shares of Bentley Systems by 43.6% during the 1st quarter. Belpointe Asset Management LLC now owns 757 shares of the company’s stock worth $33,000 after purchasing an additional 230 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of Bentley Systems by 78.4% during the 1st quarter. Benjamin Edwards Inc. now owns 776 shares of the company’s stock worth $33,000 after purchasing an additional 341 shares during the period. Finally, Nisa Investment Advisors LLC bought a new position in shares of Bentley Systems during the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 36.12% of the company’s stock.

Bentley Systems Company Profile

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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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.