Bentley Systems (NASDAQ:BSY) Lowered to “Hold” Rating by Zacks Research

Bentley Systems (NASDAQ:BSY) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other brokerages also recently weighed in on BSY. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $42.00 to $45.00 in a report on Friday, May 8th. Oppenheimer cut their price target on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, February 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. Bank of America started coverage on Bentley Systems in a report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Barclays boosted their price target on Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, March 6th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Bentley Systems currently has an average rating of “Hold” and an average target price of $47.69.

Bentley Systems Trading Down 0.5%

Shares of BSY opened at $33.16 on Thursday. The stock has a fifty day moving average of $34.39 and a two-hundred day moving average of $37.49. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $9.69 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 2.09 and a beta of 1.01. Bentley Systems has a fifty-two week low of $30.52 and a fifty-two week high of $59.25.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $424.18 million during the quarter, compared to the consensus estimate of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.Bentley Systems’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. As a group, analysts forecast that Bentley Systems will post 1.23 EPS for the current year.

Institutional Trading of Bentley Systems

Several institutional investors have recently made changes to their positions in BSY. Geneos Wealth Management Inc. grew its stake in shares of Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares during the period. Invesco Ltd. grew its stake in shares of Bentley Systems by 2.6% during the 2nd quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock valued at $20,242,000 after buying an additional 9,557 shares during the period. First Trust Advisors LP grew its stake in shares of Bentley Systems by 97.5% during 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 during the period. Brown Advisory Inc. purchased a new stake in shares of Bentley Systems during the 2nd quarter valued at $212,000. Finally, Cresset Asset Management LLC purchased a new stake in shares of Bentley Systems during the 2nd quarter valued at $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.