Mizuho Cuts Bentley Systems (NASDAQ:BSY) Price Target to $45.00

Bentley Systems (NASDAQ:BSYGet Rating) had its price objective trimmed by Mizuho from $53.00 to $45.00 in a research report released on Wednesday morning, The Fly reports.

Other equities analysts have also recently issued reports about the stock. Bank of America lowered their price objective on shares of Bentley Systems from $60.00 to $50.00 in a research report on Tuesday. Zacks Investment Research cut shares of Bentley Systems from a hold rating to a sell rating in a research report on Wednesday, March 9th. Royal Bank of Canada decreased their target price on shares of Bentley Systems from $55.00 to $46.00 in a research note on Wednesday. KeyCorp decreased their target price on shares of Bentley Systems from $72.00 to $50.00 and set an overweight rating for the company in a research note on Wednesday, March 2nd. Finally, The Goldman Sachs Group decreased their target price on shares of Bentley Systems from $60.00 to $52.00 in a research note on Tuesday, March 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $52.18.

NASDAQ:BSY opened at $32.09 on Wednesday. The stock has a fifty day simple moving average of $40.43 and a 200 day simple moving average of $44.41. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 114.61, a price-to-earnings-growth ratio of 9.32 and a beta of 0.88. Bentley Systems has a 1-year low of $26.32 and a 1-year high of $71.92. The company has a quick ratio of 1.04, a current ratio of 0.68 and a debt-to-equity ratio of 4.09.

Bentley Systems (NASDAQ:BSYGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Bentley Systems had a net margin of 8.84% and a return on equity of 55.22%. The company had revenue of $275.52 million during the quarter, compared to analyst estimates of $268.65 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 24.1% on a year-over-year basis. Equities analysts predict that Bentley Systems will post 0.57 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, March 8th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Monday, March 7th. Bentley Systems’s payout ratio is presently 42.86%.

In other Bentley Systems news, Director Raymond B. Bentley sold 213,547 shares of the business’s stock in a transaction on Monday, April 25th. The shares were sold at an average price of $42.66, for a total transaction of $9,109,915.02. Following the completion of the transaction, the director now owns 17,647,285 shares of the company’s stock, valued at approximately $752,833,178.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Raymond B. Bentley sold 104,340 shares of the business’s stock in a transaction on Friday, April 22nd. The stock was sold at an average price of $42.73, for a total transaction of $4,458,448.20. Following the transaction, the director now directly owns 17,860,832 shares of the company’s stock, valued at approximately $763,193,351.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 592,577 shares of company stock valued at $25,285,068. 22.53% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of BSY. Morgan Stanley increased its holdings in shares of Bentley Systems by 192.3% during the 2nd quarter. Morgan Stanley now owns 445,968 shares of the company’s stock worth $28,890,000 after purchasing an additional 293,402 shares during the period. Truist Financial Corp increased its holdings in shares of Bentley Systems by 10.8% during the 3rd quarter. Truist Financial Corp now owns 59,753 shares of the company’s stock worth $3,624,000 after purchasing an additional 5,820 shares during the period. Mackenzie Financial Corp bought a new stake in Bentley Systems in the third quarter valued at about $1,190,000. State Board of Administration of Florida Retirement System increased its stake in Bentley Systems by 22.8% in the third quarter. State Board of Administration of Florida Retirement System now owns 91,995 shares of the company’s stock valued at $5,579,000 after acquiring an additional 17,058 shares during the period. Finally, BlackRock Inc. increased its stake in Bentley Systems by 55.2% in the third quarter. BlackRock Inc. now owns 7,984,567 shares of the company’s stock valued at $484,185,000 after acquiring an additional 2,838,418 shares during the period. Institutional investors own 33.12% of the company’s stock.

Bentley Systems Company Profile (Get Rating)

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.

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