Bentley Systems (NASDAQ:BSY) Receives “Buy” Rating from Bank of America

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating reiterated by research analysts at Bank of America in a research note issued on Tuesday,Benzinga reports. They presently have a $40.00 price objective on the stock. Bank of America‘s target price suggests a potential upside of 22.55% from the company’s previous close.

A number of other analysts also recently commented on the company. BMO Capital Markets reissued an “outperform” rating on shares of Bentley Systems in a research note on Monday, March 2nd. Piper Sandler raised Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $42.00 to $45.00 in a research note on Friday. Oppenheimer dropped their price objective on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Mizuho dropped their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.69.

Bentley Systems Stock Down 0.4%

BSY opened at $32.64 on Tuesday. Bentley Systems has a one year low of $30.83 and a one year high of $59.25. 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 stock’s fifty day moving average is $35.50 and its 200-day moving average is $38.57. The company has a market capitalization of $9.54 billion, a PE ratio of 37.09, a P/E/G ratio of 2.20 and a beta of 1.01.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The company had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. During the same quarter in the previous year, the business earned $0.35 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts predict that Bentley Systems will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Bentley Systems

A number of hedge funds have recently modified their holdings of BSY. Los Angeles Capital Management LLC acquired a new position in shares of Bentley Systems in the 4th quarter worth $25,000. Geneos Wealth Management Inc. grew its holdings in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares during the last quarter. Baillie Gifford & Co. purchased a new position in shares of Bentley Systems during the third quarter valued at $28,000. National Pension Service purchased a new position in shares of Bentley Systems during the third quarter valued at $28,000. Finally, Physician Wealth Advisors Inc. grew its holdings in shares of Bentley Systems by 80.2% during the first quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after buying an additional 352 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Company Profile

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.