Bentley Systems (NASDAQ:BSY – Get Free Report) had its price target lowered by research analysts at Barclays from $49.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 22.55% from the stock’s current price.
A number of other brokerages have also issued reports on BSY. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $42.00 to $45.00 in a report on Friday, May 8th. Mizuho lowered their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. BMO Capital Markets reiterated an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Oppenheimer lowered their price objective on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Finally, Weiss Ratings lowered shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.00.
Get Our Latest Research Report on BSY
Bentley Systems Price Performance
Bentley Systems (NASDAQ:BSY – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $424.18 million during the quarter, compared to analyst estimates of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.Bentley Systems’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 EPS. As a group, sell-side analysts anticipate that Bentley Systems will post 1.21 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of BSY. Vanguard Group Inc. lifted its stake in Bentley Systems by 10.7% in the third quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock worth $957,922,000 after acquiring an additional 1,792,591 shares during the last quarter. Swedbank AB lifted its holdings in Bentley Systems by 4.8% during the 1st quarter. Swedbank AB now owns 9,000,000 shares of the company’s stock worth $316,080,000 after buying an additional 410,799 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Bentley Systems by 253.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock worth $167,924,000 after buying an additional 3,429,087 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Bentley Systems by 150.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock worth $163,703,000 after buying an additional 2,803,241 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Bentley Systems by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 3,468,512 shares of the company’s stock worth $132,060,000 after buying an additional 216,257 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.
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.
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