Bentley Systems’ (BSY) Buy Rating Reaffirmed at Rosenblatt Securities

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $50.00 price objective on the stock. Rosenblatt Securities‘s target price suggests a potential upside of 27.31% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Piper Sandler reiterated an “overweight” rating and issued a $45.00 price target on shares of Bentley Systems in a report on Friday, August 7th. Cantor Fitzgerald upped their target price on shares of Bentley Systems from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, October 16th. Weiss Ratings raised shares of Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 19th. Finally, BMO Capital Markets raised their target price on shares of Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.77.

Bentley Systems Trading Down 1.4%

BSY stock traded down $0.56 during trading on Tuesday, hitting $39.27. The company had a trading volume of 882,558 shares, compared to its average volume of 2,830,982. The firm has a 50-day moving average price of $34.63 and a 200-day moving average price of $34.40. Bentley Systems has a 12 month low of $28.08 and a 12 month high of $52.24. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 2.48 and a beta of 0.99.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $410.73 million for the quarter, compared to analyst estimates of $412.12 million. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS. As a group, analysts predict that Bentley Systems will post 1.21 earnings per share for the current year.

Institutional Trading of Bentley Systems

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Robeco Schweiz AG raised its holdings in Bentley Systems by 66.3% in the third quarter. Robeco Schweiz AG now owns 758,586 shares of the company’s stock worth $24,237,000 after purchasing an additional 302,346 shares during the period. Middleton & Co. Inc. MA increased its holdings in shares of Bentley Systems by 12.8% in the third quarter. Middleton & Co. Inc. MA now owns 20,977 shares of the company’s stock worth $670,000 after acquiring an additional 2,382 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of Bentley Systems by 0.7% during the third quarter. Yousif Capital Management LLC now owns 41,229 shares of the company’s stock worth $1,317,000 after purchasing an additional 298 shares during the period. Vest Financial LLC grew its position in shares of Bentley Systems by 10.2% in the 3rd quarter. Vest Financial LLC now owns 20,988 shares of the company’s stock valued at $671,000 after purchasing an additional 1,937 shares during the period. Finally, Diversify Advisory Services LLC increased its stake in Bentley Systems by 1.6% during the 3rd quarter. Diversify Advisory Services LLC now owns 20,930 shares of the company’s stock worth $669,000 after purchasing an additional 327 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

About Bentley Systems

Bentley Systems, Incorporated is a software company that develops solutions for the design, construction, and operation of infrastructure. Its customers include engineers, architects, geospatial professionals, construction firms, and infrastructure owner-operators in sectors such as transportation, water, utilities, industrial facilities, and buildings.

The company’s product portfolio includes MicroStation for infrastructure design, ProjectWise for project collaboration, AssetWise for asset performance and operations, and SYNCHRO for construction management.