Bentley Systems (NASDAQ:BSY – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.
A number of other research firms have also recently commented on BSY. Barclays upped their price target on shares of Bentley Systems from $47.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, March 6th. Bank of America started coverage on shares of Bentley Systems in a report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price target on the stock. Rosenblatt Securities cut their price target on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Mizuho dropped their target price on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Bentley Systems has an average rating of “Hold” and a consensus target price of $47.69.
Get Our Latest Research Report on Bentley Systems
Bentley Systems Trading Down 0.5%
Bentley Systems (NASDAQ:BSY – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $424.18 million for the quarter, compared to analysts’ expectations of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. Equities research analysts forecast that Bentley Systems will post 1.23 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSY. Geneos Wealth Management Inc. boosted its holdings in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares in the last quarter. Invesco Ltd. raised its position in shares of Bentley Systems by 2.6% in the 2nd quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock valued at $20,242,000 after purchasing an additional 9,557 shares during the last quarter. First Trust Advisors LP raised its position in shares of Bentley Systems by 97.5% in the 2nd quarter. First Trust Advisors LP now owns 160,644 shares of the company’s stock valued at $8,670,000 after purchasing an additional 79,286 shares during the last quarter. Brown Advisory Inc. purchased a new position in shares of Bentley Systems in the 2nd quarter valued at approximately $212,000. Finally, Cresset Asset Management LLC purchased a new position in shares of Bentley Systems in the 2nd quarter valued at approximately $248,000. 44.16% of the stock is currently owned by 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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