Bentley Systems (NASDAQ:BSY) Given “Buy” Rating at Rosenblatt Securities

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $50.00 target price on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 42.01% from the stock’s previous close.

A number of other equities research analysts also recently commented on BSY. BMO Capital Markets raised their price objective on shares of Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday. Weiss Ratings cut Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 16th. Barclays cut their target price on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, May 29th. Zacks Research downgraded Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, UBS Group dropped their price objective on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.00.

Bentley Systems Price Performance

Shares of Bentley Systems stock opened at $35.21 on Monday. The company has a market cap of $10.23 billion, a P/E ratio of 38.69, a PEG ratio of 2.26 and a beta of 0.98. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Bentley Systems has a one year low of $28.08 and a one year high of $57.25. The firm has a fifty day moving average of $32.14 and a two-hundred day moving average of $33.91.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $410.73 million for the quarter, compared to the consensus estimate of $412.12 million. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, analysts forecast that Bentley Systems will post 1.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BSY. Baillie Gifford & Co. grew its holdings in shares of Bentley Systems by 54,633.0% during the fourth quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock worth $11,384,000 after buying an additional 297,750 shares in the last quarter. SummitTX Capital L.P. raised its holdings in Bentley Systems by 74.9% in the 1st quarter. SummitTX Capital L.P. now owns 104,520 shares of the company’s stock valued at $3,671,000 after acquiring an additional 44,774 shares during the last quarter. Comerica Bank lifted its stake in shares of Bentley Systems by 106.8% during the 4th quarter. Comerica Bank now owns 61,147 shares of the company’s stock worth $2,334,000 after purchasing an additional 31,576 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Bentley Systems by 25.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 166,493 shares of the company’s stock worth $6,352,000 after purchasing an additional 33,456 shares during the last quarter. Finally, State of Michigan Retirement System acquired a new position in Bentley Systems in the fourth quarter valued at $1,343,000. 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.