Piper Sandler Has Lowered Expectations for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY) had its target price decreased by research analysts at Piper Sandler from $65.00 to $57.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 22.79% from the stock’s previous close.

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

Bentley Systems Price Performance

Shares of BSY opened at $46.42 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems has a 1-year low of $43.82 and a 1-year high of $57.19. The stock has a market cap of $13.49 billion, a PE ratio of 41.82, a price-to-earnings-growth ratio of 4.04 and a beta of 1.04. The firm has a fifty day moving average price of $48.28 and a 200 day moving average price of $48.97.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. The business 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 business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. As a group, sell-side analysts anticipate that Bentley Systems will post 0.88 EPS for the current year.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 69,573 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. This trade represents a 0.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $50.92, for a total value of $2,546,000.00. Following the transaction, the director now directly owns 12,148,235 shares in the company, valued at $618,588,126.20. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,573 shares of company stock worth $10,712,472. Company insiders own 21.12% of the company’s stock.

Institutional Trading of Bentley Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Impax Asset Management Group plc purchased a new position in Bentley Systems in the third quarter valued at about $88,771,000. Swedbank AB increased its stake in Bentley Systems by 24.2% in the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock valued at $260,874,000 after purchasing an additional 1,000,000 shares in the last quarter. Fiera Capital Corp acquired a new position in Bentley Systems during the third quarter worth $42,773,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Bentley Systems by 3.9% during 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 purchasing an additional 586,458 shares during the last quarter. Finally, Creative Planning grew its holdings in Bentley Systems by 67.9% in the second quarter. Creative Planning now owns 1,091,058 shares of the company’s stock valued at $53,855,000 after purchasing an additional 441,316 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

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.