Bentley Systems (NASDAQ:BSY) Upgraded to Strong-Buy at Cantor Fitzgerald

Bentley Systems (NASDAQ:BSY) was upgraded by equities researchers at Cantor Fitzgerald to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Several other equities analysts have also issued reports on the company. Barclays decreased their target price on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, May 29th. BNP Paribas Exane assumed coverage on shares of Bentley Systems in a research note on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price objective for the company. Weiss Ratings upgraded shares of Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 target price on shares of Bentley Systems in a research note on Friday, August 7th. Finally, Zacks Research lowered shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.38.

Bentley Systems Stock Up 0.6%

Shares of NASDAQ BSY opened at $31.88 on Monday. 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 business’s 50 day moving average is $34.23 and its two-hundred day moving average is $33.96. Bentley Systems has a 52-week low of $28.08 and a 52-week high of $57.25. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 35.03, a PEG ratio of 2.00 and a beta of 0.98.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.The business had revenue of $410.73 million during the quarter, compared to analyst estimates of $412.12 million. During the same period last year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. Research analysts predict that Bentley Systems will post 1.19 EPS for the current year.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership boosted its position in shares of Bentley Systems by 253.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock worth $167,924,000 after acquiring an additional 3,429,087 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Bentley Systems by 150.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock worth $163,703,000 after acquiring an additional 2,803,241 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Bentley Systems during the second quarter worth approximately $78,738,000. Norges Bank purchased a new stake in Bentley Systems during the fourth quarter worth approximately $68,766,000. Finally, Madison Asset Management LLC purchased a new stake in Bentley Systems during the second quarter worth approximately $40,807,000. 44.16% of the stock is owned by institutional investors and hedge funds.

About Bentley Systems

Bentley Systems, Incorporated develops software for professionals and organizations involved in the planning, design, construction and operation of infrastructure. Its solutions support sectors including transportation, water and wastewater, utilities, buildings, industrial facilities, mining and other public and private infrastructure markets.

The company’s product portfolio includes MicroStation for infrastructure design and modeling; ProjectWise for project collaboration and information management; AssetWise for asset performance and operations; OpenRoads and OpenBuildings for specialized design workflows; SYNCHRO for construction management; and the iTwin platform for creating and using digital twins of infrastructure assets.

Founded in 1984 by brothers Keith, Barry and Raymond Bentley, Bentley Systems is headquartered in Exton, Pennsylvania, and serves customers globally.