Bentley Systems (NASDAQ:BSY) Upgraded by BNP Paribas Exane to Strong-Buy Rating

Bentley Systems (NASDAQ:BSY) was upgraded by research analysts at BNP Paribas Exane to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

BSY has been the subject of a number of other reports. BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. UBS Group reduced their price target on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Zacks Research lowered shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Oppenheimer decreased their price target on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Finally, Rosenblatt Securities cut their price objective on Bentley Systems from $58.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.50.

Bentley Systems Price Performance

NASDAQ:BSY opened at $29.38 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. Bentley Systems has a 52 week low of $28.42 and a 52 week high of $59.25. The stock’s 50-day moving average price is $32.80 and its 200-day moving average price is $35.89. The stock has a market capitalization of $8.59 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 1.90 and a beta of 1.00.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The company had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. Bentley Systems’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts expect that Bentley Systems will post 1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its stake in Bentley Systems by 1,529.3% in 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 in the last quarter. Invesco Ltd. boosted its stake in Bentley Systems by 2.6% during the second quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock worth $20,242,000 after buying an additional 9,557 shares during the last quarter. First Trust Advisors LP grew its holdings in Bentley Systems by 97.5% in 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. acquired a new stake in shares of Bentley Systems in the 2nd quarter worth $212,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of Bentley Systems in the 2nd quarter worth $248,000. 44.16% of the stock is owned by hedge funds and other 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.