Bentley Systems, Incorporated (NASDAQ:BSY – Get Free Report)’s share price fell 5.6% during trading on Friday . The company traded as low as $33.76 and last traded at $33.6140. Approximately 164,112 shares were traded during mid-day trading, a decline of 94% from the average session volume of 2,868,710 shares. The stock had previously closed at $35.59.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. BNP Paribas Exane assumed coverage on shares of Bentley Systems in a research note on Thursday, June 18th. They set an “outperform” rating and a $40.00 target price for the company. BMO Capital Markets boosted their target price on Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Mizuho decreased their price target on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Barclays dropped their price objective on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, May 29th. Finally, Zacks Research cut shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and an average target price of $45.00.
Get Our Latest Report on Bentley Systems
Bentley Systems Stock Performance
Bentley Systems (NASDAQ:BSY – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $410.73 million during the quarter, compared to analysts’ expectations of $412.12 million. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 EPS. As a group, equities analysts predict that Bentley Systems, Incorporated will post 1.19 earnings per share for the current year.
Hedge Funds Weigh In On Bentley Systems
Several institutional investors and hedge funds have recently made changes to their positions in the business. Groupe la Francaise lifted its holdings in Bentley Systems by 46.1% in the second quarter. Groupe la Francaise now owns 159,678 shares of the company’s stock worth $4,776,000 after acquiring an additional 50,412 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Bentley Systems during the 2nd quarter valued at approximately $323,000. California State Teachers Retirement System grew its stake in Bentley Systems by 2,805.5% during the 2nd quarter. California State Teachers Retirement System now owns 5,523,672 shares of the company’s stock worth $165,103,000 after buying an additional 5,333,560 shares during the last quarter. AlphaGrep UK Ltd acquired a new stake in Bentley Systems in the second quarter worth $203,000. Finally, Concurrent Investment Advisors LLC lifted its stake in Bentley Systems by 1.8% in the second quarter. Concurrent Investment Advisors LLC now owns 122,399 shares of the company’s stock valued at $3,659,000 after buying an additional 2,164 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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