Bentley Systems (NASDAQ:BSY – Get Free Report) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.
Several other research firms have also commented on BSY. BMO Capital Markets raised their target price on Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. BNP Paribas Exane started coverage on Bentley Systems in a research report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price objective on the stock. Zacks Research cut shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $50.00 target price on shares of Bentley Systems in a report on Monday, August 10th. Finally, Barclays decreased their target price on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Moderate Buy” and an average price target of $44.38.
Get Our Latest Stock Analysis on BSY
Bentley Systems Trading Up 0.6%
Bentley Systems (NASDAQ:BSY – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The company had revenue of $410.73 million for the quarter, compared to the consensus estimate of $412.12 million. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. Equities research analysts predict that Bentley Systems will post 1.19 earnings per share for the current year.
Hedge Funds Weigh In On Bentley Systems
Several hedge funds and other institutional investors have recently modified their holdings of BSY. Physician Wealth Advisors Inc. increased its position in shares of Bentley Systems by 80.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock worth $28,000 after purchasing an additional 352 shares during the last quarter. National Pension Service lifted its position in Bentley Systems by 63.0% in the fourth quarter. National Pension Service now owns 880 shares of the company’s stock valued at $34,000 after buying an additional 340 shares during the last quarter. CX Institutional lifted its position in Bentley Systems by 898.9% in the second quarter. CX Institutional now owns 939 shares of the company’s stock valued at $28,000 after buying an additional 845 shares during the last quarter. Summit Securities Group LLC purchased a new position in Bentley Systems during the first quarter worth about $34,000. Finally, Harbor Investment Advisory LLC purchased a new position in Bentley Systems during the second quarter worth about $30,000. 44.16% of the stock is owned by hedge funds and other institutional investors.
About Bentley Systems
Bentley Systems, Incorporated develops software for professionals and organizations involved in the planning, design, construction and operation of infrastructure. Its solutions support sectors including transportation, water and wastewater, utilities, buildings, industrial facilities, mining and other public and private infrastructure markets.
The company’s product portfolio includes MicroStation for infrastructure design and modeling; ProjectWise for project collaboration and information management; AssetWise for asset performance and operations; OpenRoads and OpenBuildings for specialized design workflows; SYNCHRO for construction management; and the iTwin platform for creating and using digital twins of infrastructure assets.
Founded in 1984 by brothers Keith, Barry and Raymond Bentley, Bentley Systems is headquartered in Exton, Pennsylvania, and serves customers globally.
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