Bentley Systems, Incorporated (NASDAQ:BSY) Receives $45.00 Consensus PT from Brokerages

Bentley Systems, Incorporated (NASDAQ:BSY) has been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $45.00.

Several research analysts have commented on the stock. Piper Sandler restated an “overweight” rating and issued a $45.00 price objective on shares of Bentley Systems in a report on Friday, August 7th. BMO Capital Markets lifted their target price on shares of Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Zacks Research downgraded shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. BNP Paribas Exane initiated coverage on shares of Bentley Systems in a report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Mizuho cut their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds have recently made changes to their positions in BSY. Geneos Wealth Management Inc. raised its holdings in Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Bentley Systems by 2.6% during the 2nd quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock valued at $20,242,000 after buying an additional 9,557 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Bentley Systems by 97.5% during the 2nd quarter. First Trust Advisors LP now owns 160,644 shares of the company’s stock valued at $8,670,000 after buying an additional 79,286 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of Bentley Systems in the 2nd quarter worth about $212,000. Finally, Cresset Asset Management LLC bought a new position in shares of Bentley Systems in the 2nd quarter worth about $248,000. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Price Performance

BSY opened at $35.12 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Bentley Systems has a 52-week low of $28.08 and a 52-week high of $57.25. The stock has a market capitalization of $10.21 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98. The stock’s 50 day moving average price is $33.95 and its 200-day moving average price is $34.01.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $410.73 million during the quarter, compared to analyst estimates 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 was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. On average, equities research analysts predict that Bentley Systems will post 1.19 EPS for the current year.

Bentley Systems Company Profile

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.