Bentley Systems (NASDAQ:BSY) Rating Increased to Strong-Buy at Zacks Research

Bentley Systems (NASDAQ:BSY) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other brokerages also recently issued reports on BSY. Mizuho cut their price target on Bentley Systems from $62.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Piper Sandler lowered their price objective on Bentley Systems from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. UBS Group dropped their target price on Bentley Systems from $60.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Royal Bank Of Canada cut their target price on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Finally, Oppenheimer reduced their price target on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.50.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $32.65 on Wednesday. The company has a market cap of $9.52 billion, a PE ratio of 37.97, a P/E/G ratio of 2.36 and a beta of 1.16. Bentley Systems has a fifty-two week low of $30.83 and a fifty-two week high of $59.25. The firm has a 50-day simple moving average of $35.69 and a 200 day simple moving average of $40.05. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.05.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, February 26th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. Bentley Systems had a net margin of 18.50% and a return on equity of 28.82%. The firm had revenue of $391.58 million for the quarter, compared to analysts’ expectations of $381.79 million. During the same quarter last year, the company posted $0.21 earnings per share. Bentley Systems’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that Bentley Systems will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Shell Asset Management Co. lifted its holdings in Bentley Systems by 4.8% in the third quarter. Shell Asset Management Co. now owns 5,421 shares of the company’s stock worth $279,000 after purchasing an additional 246 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Bentley Systems by 2.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company’s stock valued at $589,000 after buying an additional 247 shares during the period. BLB&B Advisors LLC raised its position in shares of Bentley Systems by 0.5% during the 3rd quarter. BLB&B Advisors LLC now owns 52,361 shares of the company’s stock worth $2,696,000 after buying an additional 261 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ raised its position in shares of Bentley Systems by 0.6% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,722 shares of the company’s stock worth $2,560,000 after buying an additional 275 shares in the last quarter. Finally, World Investment Advisors lifted its stake in shares of Bentley Systems by 6.5% in the 3rd quarter. World Investment Advisors now owns 4,742 shares of the company’s stock worth $244,000 after acquiring an additional 291 shares during the period. Institutional investors own 44.16% of the company’s stock.

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.