Bentley Systems (NASDAQ:BSY – Get Free Report) was upgraded by analysts at BNP Paribas Exane to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.
A number of other research analysts have also recently issued reports on the stock. Bank of America assumed coverage on shares of Bentley Systems in a report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price target for the company. BMO Capital Markets reissued an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Barclays reduced their target price on 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. UBS Group dropped their price target on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Finally, Oppenheimer cut their price objective on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.50.
Get Our Latest Stock 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 earnings per share. As a group, equities analysts forecast that Bentley Systems will post 1.19 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Bentley Systems
Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Bentley Systems by 10.7% during 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 period. Swedbank AB lifted its holdings in Bentley Systems by 4.8% in the first quarter. Swedbank AB now owns 9,000,000 shares of the company’s stock valued at $316,080,000 after acquiring an additional 410,799 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Bentley Systems by 253.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock worth $167,924,000 after purchasing an additional 3,429,087 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of 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 purchasing an additional 2,803,241 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of 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 purchasing an additional 216,257 shares during the period. Institutional investors and hedge funds 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.
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