Bentley Systems (NASDAQ:BSY) Shares Gap Down to $56.72

Bentley Systems, Incorporated (NASDAQ:BSYGet Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $56.72, but opened at $52.50. Bentley Systems shares last traded at $53.12, with a volume of 476,616 shares.

Wall Street Analyst Weigh In

A number of research firms recently commented on BSY. Robert W. Baird lifted their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Piper Sandler reissued an “overweight” rating and set a $63.00 target price (up previously from $60.00) on shares of Bentley Systems in a report on Wednesday, May 8th. Mizuho boosted their target price on shares of Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $60.00 target price on shares of Bentley Systems in a report on Tuesday, April 30th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and an average price target of $61.29.

Get Our Latest Research Report on Bentley Systems

Bentley Systems Price Performance

The firm’s 50-day moving average is $52.10 and its 200-day moving average is $51.37. The company has a market capitalization of $15.25 billion, a PE ratio of 49.34, a price-to-earnings-growth ratio of 5.04 and a beta of 1.08. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.53.

Bentley Systems (NASDAQ:BSYGet Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. The company had revenue of $310.64 million during the quarter, compared to analyst estimates of $313.67 million. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts predict that Bentley Systems, Incorporated will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the sale, the director now directly owns 17,150,752 shares in the company, valued at $943,291,360. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Keith A. Bentley sold 88,925 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $49.48, for a total value of $4,400,009.00. Following the completion of the transaction, the director now directly owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The disclosure for this sale can be found here. Insiders sold a total of 284,315 shares of company stock worth $15,148,243 over the last three months. Company insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors have recently bought and sold shares of the stock. M&T Bank Corp raised its stake in Bentley Systems by 0.4% in the third quarter. M&T Bank Corp now owns 57,456 shares of the company’s stock worth $2,882,000 after buying an additional 218 shares in the last quarter. Wealthfront Advisers LLC increased its stake in shares of Bentley Systems by 1.9% during the third quarter. Wealthfront Advisers LLC now owns 12,108 shares of the company’s stock valued at $607,000 after purchasing an additional 228 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Bentley Systems by 87.3% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after purchasing an additional 254 shares in the last quarter. MJP Associates Inc. ADV increased its stake in shares of Bentley Systems by 3.9% during the fourth quarter. MJP Associates Inc. ADV now owns 7,346 shares of the company’s stock valued at $383,000 after purchasing an additional 277 shares in the last quarter. Finally, Portside Wealth Group LLC increased its stake in shares of Bentley Systems by 2.8% during the fourth quarter. Portside Wealth Group LLC now owns 11,412 shares of the company’s stock valued at $595,000 after purchasing an additional 308 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

Bentley Systems Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Bentley Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bentley Systems and related companies with MarketBeat.com's FREE daily email newsletter.