Bentley Systems (NASDAQ:BSY) Announces Quarterly Earnings Results

Bentley Systems (NASDAQ:BSY) issued its quarterly earnings data on Thursday. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02, Briefing.com reports. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm had revenue of $424.18 million during the quarter, compared to the consensus estimate of $419.80 million. During the same period last year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year.

Here are the key takeaways from Bentley Systems’ conference call:

• Q1 revenue of $424M (up 14.5% YoY) and ARR of $1.495B, with a 109% net revenue retention rate, AOI less operating SBC margin of 33.2%, and LTM free cash flow of $492M — management says the company is on track for its 2026 outlook.
• Management is prioritizing an Infrastructure AI strategy — they released an MCP server for STAAD, report Asset Analytics above a $50M ARR run rate, and plan API-based consumption pricing to monetize agentic AI workflows.
• Bentley highlights deep enterprise penetration — 45% of revenue from 220 accounts spending >$1M, and 470 of 614 ex?China top global design firms are customers, positioning the company to benefit from cross-sell and AI-led adoption.
• Balance sheet and capital actions included retiring $678M of convertible notes, reducing net debt and repurchasing shares/dividends, plus a new $550M term loan to lower interest cost and expand borrowing capacity for strategic priorities.
• Near-term headwinds include an 18% decline in perpetual license revenue, natural dollar churn pressure from the large Virtuoso SMB base, first-half-weighted investments that compress near-term cash flow comparisons, and persistent China weakness (~2% of ARR).

Bentley Systems Price Performance

BSY stock traded down $0.86 during mid-day trading on Friday, hitting $32.76. The stock had a trading volume of 2,713,588 shares, compared to its average volume of 1,997,384. The firm has a fifty day simple moving average of $35.58 and a 200 day simple moving average of $38.84. The firm has a market capitalization of $9.56 billion, a P/E ratio of 37.23, a P/E/G ratio of 2.26 and a beta of 1.01. The company has a current ratio of 0.51, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. Bentley Systems has a 52 week low of $30.83 and a 52 week high of $59.25.

Bentley Systems Dividend Announcement

The company also recently disclosed 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. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, March 10th. Bentley Systems’s dividend payout ratio is presently 31.82%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Mizuho lowered their target price on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday. Zacks Research raised Bentley Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 22nd. BMO Capital Markets reiterated an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $42.00 to $45.00 in a research report on Friday. Finally, Barclays upped their price target on shares of Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in shares of Bentley Systems by 6.8% during the 3rd quarter. Northern Trust Corp now owns 1,731,289 shares of the company’s stock worth $89,127,000 after buying an additional 109,808 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Bentley Systems by 246.4% in the fourth quarter. Invesco Ltd. now owns 1,366,990 shares of the company’s stock worth $52,171,000 after acquiring an additional 972,409 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Bentley Systems by 115.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,352,362 shares of the company’s stock valued at $51,613,000 after purchasing an additional 725,197 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Bentley Systems by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,184,037 shares of the company’s stock valued at $45,196,000 after purchasing an additional 90,129 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Bentley Systems by 1.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,081,893 shares of the company’s stock valued at $41,290,000 after purchasing an additional 15,741 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Key Bentley Systems News

Here are the key news stories impacting Bentley Systems this week:

• Positive Sentiment: Bentley Systems reported Q1 earnings of $0.38 per share, beating estimates of $0.36, while revenue of $424.2 million also topped expectations. Sales rose 14.5% year over year, suggesting continued healthy demand for the company’s software. Earnings transcript
• Positive Sentiment: Mizuho kept an outperform rating on Bentley Systems and still sees upside from current levels, which may help support sentiment despite the lower target. Benzinga report
• Neutral Sentiment: The company’s earnings call transcript and presentation are in focus as investors look for commentary on growth trends, margins, and full-year guidance following the report. Yahoo Finance transcript
• Negative Sentiment: Mizuho lowered its price target on Bentley Systems from $50 to $45, a sign that analysts are becoming slightly more cautious about the stock’s near-term valuation. Mizuho price-target update

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.