Rosenblatt Securities Forecasts Strong Price Appreciation for Bentley Systems (NASDAQ:BSY) Stock

Bentley Systems (NASDAQ:BSY) had its target price hoisted by equities researchers at Rosenblatt Securities from $50.00 to $53.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities‘s price target would suggest a potential upside of 17.94% from the company’s current price.

BSY has been the topic of a number of other research reports. BMO Capital Markets upped their price target on Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Weiss Ratings raised Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 19th. Piper Sandler reiterated an “overweight” rating and issued a $45.00 target price on shares of Bentley Systems in a report on Friday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $52.00 target price on shares of Bentley Systems in a report on Friday. Finally, Cantor Fitzgerald upped their target price on Bentley Systems from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, October 16th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.25.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $44.94 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Bentley Systems has a twelve month low of $28.08 and a twelve month high of $48.38. The stock has a market cap of $13.06 billion, a price-to-earnings ratio of 49.38, a P/E/G ratio of 2.72 and a beta of 0.98. The company’s fifty day moving average is $35.47 and its 200 day moving average is $34.48.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, November 5th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $421.51 million during the quarter, compared to analyst estimates of $420.69 million. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%. Bentley Systems’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $0.27 EPS. Sell-side analysts forecast that Bentley Systems will post 1.21 EPS for the current year.

Insider Activity

In related news, Director Raymond Bentley sold 344,203 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $40.24, for a total transaction of $13,850,728.72. Following the transaction, the director owned 14,316,404 shares in the company, valued at $576,092,096.96. The trade was a 2.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 500,000 shares of company stock worth $20,089,565. 20.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently bought and sold shares of BSY. Pictet Asset Management Holding SA raised its holdings in shares of Bentley Systems by 19.9% during the third quarter. Pictet Asset Management Holding SA now owns 5,235,307 shares of the company’s stock valued at $167,260,000 after purchasing an additional 867,821 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Bentley Systems by 253.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock worth $167,924,000 after purchasing an additional 3,429,087 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Bentley Systems during the 2nd quarter worth about $78,738,000. Bessemer Group Inc. grew its stake in shares of Bentley Systems by 36.2% in the 1st quarter. Bessemer Group Inc. now owns 2,600,241 shares of the company’s stock valued at $91,320,000 after buying an additional 691,806 shares during the period. Finally, Madison Asset Management LLC acquired a new stake in shares of Bentley Systems in the 2nd quarter valued at about $40,807,000. 44.16% of the stock is owned by institutional investors.

Bentley Systems News Summary

Here are the key news stories impacting Bentley Systems this week:

• Positive Sentiment: Q3 adjusted earnings were $0.36 per share, above consensus estimates of $0.33–$0.34 and up from $0.27 a year earlier. Revenue rose 12.2% year over year to $421.5 million, narrowly exceeding the roughly $420.7 million estimate. Article: Bentley Systems Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: The company raised its annual recurring revenue outlook, signaling improved confidence in recurring growth and offering investors a favorable forward-looking takeaway alongside the quarterly beat. Article: Bentley Systems reports revenue growth and raises ARR outlook
• Neutral Sentiment: Revenue was only marginally ahead of analyst expectations, so the results’ upside appears more pronounced in earnings and the raised outlook than in sales growth. Article: Bentley Systems posts Q3 sales in line with estimates
• Negative Sentiment: An insider, Raymond Bentley, reportedly sold 344,203 shares. Such a sale can weigh on sentiment, although the report alone does not establish the seller’s reason or whether it reflects a view on the company’s outlook. Article: Insider Raymond Bentley sells shares

Bentley Systems Company Profile

Bentley Systems, Incorporated is a software company that develops solutions for the design, construction, and operation of infrastructure. Its customers include engineers, architects, geospatial professionals, construction firms, and infrastructure owner-operators in sectors such as transportation, water, utilities, industrial facilities, and buildings.

The company’s product portfolio includes MicroStation for infrastructure design, ProjectWise for project collaboration, AssetWise for asset performance and operations, and SYNCHRO for construction management.