Bentley Systems (NASDAQ:BSY) Upgraded by Zacks Research to “Strong-Buy” Rating

Bentley Systems (NASDAQ:BSY) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities research analysts also recently commented on BSY. Robert W. Baird set a $55.00 target price on Bentley Systems in a report on Wednesday, January 7th. Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. Piper Sandler reduced their price objective on shares of Bentley Systems from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. UBS Group decreased their target price on shares of Bentley Systems from $60.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Finally, BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $32.65 on Wednesday. Bentley Systems has a 1 year low of $30.83 and a 1 year high of $59.25. The firm has a market cap of $9.52 billion, a P/E ratio of 37.97, a PEG ratio of 2.36 and a beta of 1.16. The stock has a fifty day moving average price of $35.69 and a two-hundred day moving average price of $40.05. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.56 and a current ratio of 0.56.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $391.58 million during the quarter, compared to the consensus estimate of $381.79 million. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 EPS. Research analysts forecast that Bentley Systems will post 1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Bentley Systems

A number of large investors have recently bought and sold shares of BSY. Vanguard Group Inc. increased its position 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 buying an additional 1,792,591 shares during the last quarter. Swedbank AB lifted its position in shares of Bentley Systems by 18.5% in the fourth quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock worth $327,807,000 after buying an additional 1,338,706 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Bentley Systems by 150.9% in the first quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock worth $163,703,000 after buying an additional 2,803,241 shares during the last quarter. Geode Capital Management LLC boosted 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 acquiring an additional 216,257 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Bentley Systems by 8.9% during the 4th quarter. Bank of New York Mellon Corp now owns 3,185,756 shares of the company’s stock worth $121,584,000 after acquiring an additional 259,780 shares in the last quarter. 44.16% of the stock is currently owned by 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.