Piper Sandler Reiterates “Overweight” Rating for Bentley Systems (NASDAQ:BSY)

Bentley Systems (NASDAQ:BSY)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Sandler in a research note issued on Wednesday, Benzinga reports. They presently have a $63.00 target price on the stock. Piper Sandler’s price objective suggests a potential upside of 28.86% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Rosenblatt Securities reissued a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research report on Wednesday. Mizuho raised their price objective on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and an average price target of $60.13.

Bentley Systems Trading Down 0.7 %

BSY traded down $0.36 on Wednesday, reaching $48.89. 162,217 shares of the company traded hands, compared to its average volume of 1,305,784. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.53. The company has a market cap of $14.10 billion, a P/E ratio of 46.03, a price-to-earnings-growth ratio of 4.21 and a beta of 1.03. The firm has a fifty day simple moving average of $49.38 and a two-hundred day simple moving average of $50.91. Bentley Systems has a one year low of $43.82 and a one year high of $57.19.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. The business had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. During the same quarter last year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities research analysts expect that Bentley Systems will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On Bentley Systems

Several institutional investors and hedge funds have recently modified their holdings of the company. Swedbank AB raised its holdings in shares of Bentley Systems by 514.5% in the 2nd quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock valued at $204,069,000 after purchasing an additional 3,461,500 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Bentley Systems by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company’s stock worth $1,154,093,000 after acquiring an additional 355,092 shares in the last quarter. Norges Bank acquired a new stake in shares of Bentley Systems during the 4th quarter worth about $16,424,000. Janus Henderson Group PLC raised its position in shares of Bentley Systems by 2,250.3% during the 1st quarter. Janus Henderson Group PLC now owns 211,711 shares of the company’s stock worth $11,055,000 after acquiring an additional 202,703 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Bentley Systems during the fourth quarter worth approximately $6,382,000. Hedge funds and other institutional investors 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.