Piper Sandler Cuts Bentley Systems (NASDAQ:BSY) Price Target to $42.00

Bentley Systems (NASDAQ:BSY) had its target price lowered by stock analysts at Piper Sandler from $45.00 to $42.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 14.91% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday, January 21st. Rosenblatt Securities reduced their target price on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Robert W. Baird set a $55.00 price objective on Bentley Systems in a research report on Wednesday, January 7th. Mizuho dropped their target price on shares of Bentley Systems from $62.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Oppenheimer cut their price target on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Bentley Systems presently has an average rating of “Hold” and a consensus target price of $48.33.

Bentley Systems Stock Down 1.3%

Shares of BSY opened at $36.55 on Monday. Bentley Systems has a 52-week low of $30.97 and a 52-week high of $59.25. The company has a market capitalization of $10.65 billion, a PE ratio of 42.50, a price-to-earnings-growth ratio of 2.62 and a beta of 1.18. The stock has a fifty day simple moving average of $36.70 and a two-hundred day simple moving average of $44.61. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.05.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Thursday, February 26th. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. Bentley Systems had a net margin of 18.50% and a return on equity of 28.82%. The company had revenue of $391.58 million for the quarter, compared to analyst estimates of $381.79 million. During the same period in the previous year, the business posted $0.21 EPS. Bentley Systems’s revenue was up 11.9% on a year-over-year basis. As a group, equities analysts forecast that Bentley Systems will post 0.88 EPS for the current year.

Institutional Trading of Bentley Systems

Large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. grew its holdings in Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Bentley Systems by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 24,350 shares of the company’s stock worth $1,314,000 after acquiring an additional 975 shares during the period. World Investment Advisors acquired a new position in shares of Bentley Systems in the 2nd quarter valued at $240,000. Assetmark Inc. grew its position in Bentley Systems by 682.8% during the second quarter. Assetmark Inc. now owns 728 shares of the company’s stock valued at $39,000 after acquiring an additional 635 shares during the period. Finally, Amalgamated Bank increased its position in Bentley Systems by 17.4% during the 2nd quarter. Amalgamated Bank now owns 11,314 shares of the company’s stock worth $611,000 after purchasing an additional 1,673 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

About Bentley Systems

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.