Bentley Systems (NASDAQ:BSY) Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Bentley Systems (NASDAQ:BSY) from a hold rating to a buy rating in a report released on Thursday morning.

A number of other research analysts have also issued reports on the company. Mizuho decreased their target price on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Rosenblatt Securities decreased their target price on Bentley Systems from $62.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Robert W. Baird reduced their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Oppenheimer increased their price objective on Bentley Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada increased their price objective on Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and an average target price of $52.00.

Bentley Systems Trading Up 0.7%

Shares of NASDAQ:BSY opened at $47.65 on Thursday. Bentley Systems has a 1 year low of $36.51 and a 1 year high of $53.47. The firm has a market capitalization of $13.91 billion, a price-to-earnings ratio of 42.93, a price-to-earnings-growth ratio of 3.52 and a beta of 1.05. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The business’s 50 day moving average price is $43.29 and its 200-day moving average price is $45.52.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The firm had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. During the same quarter last year, the firm posted $0.31 EPS. The business’s revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Brock Ballard sold 12,363 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction of $557,324.04. Following the completion of the sale, the executive now directly owns 68,064 shares of the company’s stock, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 20.56% of the company’s stock.

Institutional Trading of Bentley Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. City Holding Co. acquired a new stake in shares of Bentley Systems during the 1st quarter worth about $26,000. Geneos Wealth Management Inc. increased its position in shares of Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares during the last quarter. Twin Tree Management LP increased its position in shares of Bentley Systems by 361.9% during the 1st quarter. Twin Tree Management LP now owns 739 shares of the company’s stock worth $29,000 after purchasing an additional 579 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Bentley Systems by 1,707.1% during the 1st quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock worth $30,000 after purchasing an additional 717 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Bentley Systems by 106.6% during the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock worth $33,000 after purchasing an additional 435 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.