Mizuho Increases Bentley Systems (NASDAQ:BSY) Price Target to $60.00

Bentley Systems (NASDAQ:BSY) had its price objective upped by equities research analysts at Mizuho from $57.00 to $60.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s price target points to a potential upside of 9.23% from the company’s current price.

BSY has been the topic of a number of other research reports. Piper Sandler reiterated an “overweight” rating and issued a $60.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Robert W. Baird lifted their price objective on Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Rosenblatt Securities restated a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a report on Tuesday, April 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, February 28th. Finally, William Blair started coverage on shares of Bentley Systems in a research report on Thursday, March 28th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Bentley Systems has an average rating of “Moderate Buy” and a consensus price target of $59.33.

Bentley Systems Price Performance

BSY stock opened at $54.93 on Wednesday. The stock’s fifty day simple moving average is $50.83 and its 200-day simple moving average is $50.85. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72. Bentley Systems has a 52-week low of $41.59 and a 52-week high of $55.37. The stock has a market capitalization of $15.70 billion, a price-to-earnings ratio of 55.48, a price-to-earnings-growth ratio of 5.36 and a beta of 1.08.

Bentley Systems (NASDAQ:BSY) last released its 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. The firm had revenue of $310.64 million during the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. Bentley Systems’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 earnings per share. Equities research analysts expect that Bentley Systems will post 0.82 EPS for the current year.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 17,021 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the transaction, the director now owns 17,150,752 shares in the company, valued at $943,291,360. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Keith A. Bentley sold 88,925 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the sale, the director now owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BSY. California Public Employees Retirement System raised its stake in shares of Bentley Systems by 223.4% in the 3rd quarter. California Public Employees Retirement System now owns 1,045,289 shares of the company’s stock valued at $52,432,000 after purchasing an additional 722,046 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Bentley Systems by 4.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock worth $677,987,000 after purchasing an additional 578,512 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Bentley Systems by 2.6% in the third quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock worth $1,091,604,000 after purchasing an additional 556,363 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Bentley Systems by 43.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock worth $54,656,000 after buying an additional 327,577 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Bentley Systems in the 4th quarter valued at about $16,424,000. 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.