Bentley Systems (NASDAQ:BSY) Stock Price Expected to Rise, Piper Sandler Analyst Says

Bentley Systems (NASDAQ:BSY) had its price target boosted by research analysts at Piper Sandler from $63.00 to $65.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 33.80% from the company’s previous close.

Several other brokerages have also recently commented on BSY. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $48.58 on Friday. The firm has a fifty day moving average of $49.48 and a two-hundred day moving average of $50.38. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 4.17 and a beta of 1.04. Bentley Systems has a 52 week low of $43.82 and a 52 week high of $57.19. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction on Monday, October 28th. The shares were sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the transaction, the director now owns 12,048,235 shares in the company, valued at approximately $589,761,103.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the completion of the sale, the director now directly owns 12,048,235 shares of the company’s stock, valued at $589,761,103.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the sale, the director now directly owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 326,032 shares of company stock valued at $16,168,176. 21.12% of the stock is currently owned by insiders.

Institutional Trading of Bentley Systems

Several institutional investors and hedge funds have recently bought and sold shares of the company. Forsta AP Fonden increased its holdings in shares of Bentley Systems by 45.0% in the 1st quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock worth $3,316,000 after buying an additional 19,700 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Bentley Systems in the 3rd quarter worth about $59,400,000. Vanguard Group Inc. lifted its position in shares of Bentley Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after purchasing an additional 134,516 shares during the period. Cetera Advisors LLC purchased a new position in Bentley Systems during the 1st quarter valued at about $608,000. Finally, Clearline Capital LP purchased a new position in Bentley Systems during the 2nd quarter valued at about $6,999,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

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.