Bentley Systems (NASDAQ:BSY) PT Lowered to $50.00

Bentley Systems (NASDAQ:BSY) had its price objective lowered by analysts at The Goldman Sachs Group from $57.00 to $50.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 2.27% from the stock’s previous close.

BSY has been the topic of several other reports. Piper Sandler restated an “overweight” rating and issued a $63.00 price objective on shares of Bentley Systems in a research report on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Wednesday. Finally, Mizuho upped their target price on shares of Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.13.

Bentley Systems Stock Performance

Shares of NASDAQ:BSY traded down $0.36 during midday trading on Wednesday, hitting $48.89. The company had a trading volume of 162,217 shares, compared to its average volume of 1,305,784. The company has a market cap of $14.10 billion, a price-to-earnings ratio of 46.03, a PEG ratio of 4.21 and a beta of 1.03. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.57 and a quick ratio of 0.57. The company has a fifty day moving average of $49.38 and a two-hundred day moving average of $50.91. Bentley Systems has a 12-month low of $43.82 and a 12-month high of $57.19.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. The company had revenue of $330.34 million during the quarter, compared to the consensus estimate of $325.20 million. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. During the same period in the previous year, the company posted $0.20 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. On average, equities research analysts expect that Bentley Systems will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Bentley Systems

A number of large investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Bentley Systems in the fourth quarter valued at approximately $6,382,000. Forsta AP Fonden boosted its holdings in Bentley Systems by 45.0% during the first 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 in the last quarter. Diversify Advisory Services LLC acquired a new stake in Bentley Systems during the first quarter valued at $935,000. Vanguard Group Inc. increased its holdings in Bentley Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock valued at $1,162,002,000 after buying an additional 134,516 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Bentley Systems by 5.0% in the fourth quarter. Handelsbanken Fonder AB now owns 793,900 shares of the company’s stock worth $41,426,000 after acquiring an additional 38,120 shares during the period. 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.