BMO Capital Markets Issues Positive Forecast for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY) had its price objective boosted by BMO Capital Markets from $41.00 to $43.00 in a research note issued to investors on Friday, MarketBeat.com reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other research firms also recently weighed in on BSY. Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 16th. Barclays cut their price objective on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, May 29th. Piper Sandler upgraded shares of Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $42.00 to $45.00 in a report on Friday, May 8th. BNP Paribas Exane assumed coverage on shares of Bentley Systems in a research report on Thursday, June 18th. They set an “outperform” rating and a $40.00 price target on the stock. 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, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Bentley Systems Trading Down 0.4%

Shares of NASDAQ:BSY opened at $35.21 on Friday. The company’s 50-day moving average price is $32.14 and its two-hundred day moving average price is $33.95. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.51. Bentley Systems has a one year low of $28.08 and a one year high of $57.25. The stock has a market capitalization of $10.29 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 2.27 and a beta of 0.98.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share 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 return on equity of 28.43% and a net margin of 18.10%.Bentley Systems’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. On average, equities analysts forecast that Bentley Systems will post 1.2 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s dividend payout ratio is 31.82%.

Hedge Funds Weigh In On Bentley Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in shares of Bentley Systems during the 4th quarter worth about $25,000. Geneos Wealth Management Inc. raised its holdings in 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 acquiring an additional 627 shares during the period. Physician Wealth Advisors Inc. lifted its position in Bentley Systems by 80.2% during the first quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock worth $28,000 after acquiring an additional 352 shares during the last quarter. CX Institutional lifted its position in Bentley Systems by 898.9% during the second quarter. CX Institutional now owns 939 shares of the company’s stock worth $28,000 after acquiring an additional 845 shares during the last quarter. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Bentley Systems during the second quarter worth approximately $30,000. 44.16% of the stock is owned by institutional investors.

Key Stories Impacting Bentley Systems

Here are the key news stories impacting Bentley Systems this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Bentley Systems from $41 to $43 and upgraded the stock to “outperform,” implying substantial upside from recent levels. The Fly
• Positive Sentiment: Second-quarter EPS beat expectations: BSY reported adjusted earnings of $0.35 per share versus the $0.32 consensus and $0.32 a year earlier. Revenue increased 12.8% year over year to $410.7 million, indicating continued growth. Bentley Systems Surpasses Q2 Earnings Estimates
• Positive Sentiment: Management’s outlook is supported by strong performances from the Seequent and Power Line Systems businesses, robust small- and medium-sized business annual recurring revenue growth, and healthy net revenue retention. Improving architecture billings and non-residential construction spending may also support demand. Bentley Systems: Bullish on Q2 EPS Beat and Improving Industry Trends
• Positive Sentiment: Coverage of BSY’s AI strategy and product expansion suggests that new technology initiatives and favorable infrastructure-sector trends could provide additional longer-term growth catalysts. BSY Q2 Deep Dive
• Neutral Sentiment: The quarterly revenue result was broadly in line with expectations, but it came in modestly below the $412.1 million analyst estimate. Investors may therefore focus on future bookings, recurring-revenue trends, and guidance for evidence that growth can accelerate. BSY Q2 Earnings Results

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.