Bentley Systems (NASDAQ:BSY) Price Target Raised to $56.00 at KeyCorp

Bentley Systems (NASDAQ:BSY) had its target price increased by research analysts at KeyCorp from $54.00 to $56.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 20.35% from the stock’s previous close.

BSY has been the topic of a number of other research reports. Mizuho lowered their price objective on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. UBS Group began coverage on Bentley Systems in a research note on Monday, March 31st. They issued a “neutral” rating and a $48.00 price objective on the stock. Robert W. Baird decreased their target price on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group cut shares of Bentley Systems from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Finally, Rosenblatt Securities reduced their price objective on shares of Bentley Systems from $62.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Bentley Systems Stock Down 1.1 %

Shares of Bentley Systems stock opened at $46.53 on Thursday. Bentley Systems has a 1-year low of $36.51 and a 1-year high of $57.19. The company has a market capitalization of $14.10 billion, a P/E ratio of 41.92, a PEG ratio of 3.52 and a beta of 1.05. The business’s fifty day moving average price is $42.20 and its two-hundred day moving average price is $45.59. 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 (NASDAQ:BSY) last announced its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $370.54 million during the quarter, compared to analyst estimates of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. Bentley Systems’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. As a group, research analysts forecast that Bentley Systems will post 0.88 EPS for the current year.

Insider Activity at Bentley Systems

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the sale, the executive now directly owns 68,064 shares of the company’s stock, valued at $3,068,325.12. The trade was a 15.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 20.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. City Holding Co. purchased a new position in Bentley Systems during the 1st quarter valued at about $26,000. Larson Financial Group LLC boosted its holdings in shares of Bentley Systems by 1,707.1% during the first quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock worth $30,000 after purchasing an additional 717 shares during the period. Fifth Third Bancorp grew its position in Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock valued at $33,000 after purchasing an additional 435 shares in the last quarter. Private Trust Co. NA increased its stake in Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after buying an additional 378 shares during the period. Finally, HM Payson & Co. purchased a new stake in Bentley Systems in the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

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.