Bentley Systems (NASDAQ:BSY) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of Bentley Systems (NASDAQ:BSY) from a strong-buy rating to a hold rating in a research report released on Thursday morning,Zacks.com reports.

A number of other brokerages also recently commented on BSY. Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. Barclays raised their target price on shares of Bentley Systems from $47.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, March 6th. UBS Group dropped their target price on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Finally, Rosenblatt Securities decreased their target price on Bentley Systems from $58.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $47.69.

Bentley Systems Stock Down 0.5%

NASDAQ BSY opened at $33.16 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. The company’s 50 day simple moving average is $34.39 and its 200 day simple moving average is $37.49. Bentley Systems has a 12 month low of $30.52 and a 12 month high of $59.25. The company has a market capitalization of $9.69 billion, a P/E ratio of 37.68, a PEG ratio of 2.09 and a beta of 1.01.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $424.18 million during the quarter, compared to analysts’ expectations of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Equities research analysts expect that Bentley Systems will post 1.23 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. Bentley Systems’s dividend payout ratio (DPR) is 31.82%.

Institutional Investors Weigh In On Bentley Systems

Several institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in Bentley Systems in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. boosted its position in Bentley Systems by 1,529.3% during 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 during the period. Baillie Gifford & Co. acquired a new position in Bentley Systems during the third quarter valued at approximately $28,000. National Pension Service acquired a new position in Bentley Systems during the third quarter valued at approximately $28,000. Finally, Physician Wealth Advisors Inc. raised its position in shares of Bentley Systems by 80.2% in the first quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after purchasing an additional 352 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

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.