Barclays Issues Pessimistic Forecast for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY) had its target price dropped by investment analysts at Barclays from $49.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 22.55% from the company’s current price.

Other analysts have also issued reports about the stock. Rosenblatt Securities decreased their price target on Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings cut Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. Zacks Research cut shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. BMO Capital Markets reissued an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Finally, Mizuho cut their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Bentley Systems presently has an average rating of “Hold” and an average target price of $47.00.

Bentley Systems Stock Up 1.4%

NASDAQ BSY traded up $0.44 on Friday, hitting $32.64. 3,018,949 shares of the stock were exchanged, compared to its average volume of 2,864,911. The company has a market cap of $9.54 billion, a PE ratio of 37.09, a PEG ratio of 2.04 and a beta of 1.01. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average price of $33.94 and a 200-day moving average price of $36.97. 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 posted its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $424.18 million during the quarter, compared to analysts’ expectations of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. Sell-side analysts anticipate that Bentley Systems will post 1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AGF Management Ltd. grew its holdings in shares of Bentley Systems by 64.2% in the third quarter. AGF Management Ltd. now owns 180,633 shares of the company’s stock valued at $9,299,000 after purchasing an additional 70,650 shares in the last quarter. Baillie Gifford & Co. boosted its stake 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 valued at $11,384,000 after purchasing an additional 297,750 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Bentley Systems by 27.4% in the third quarter. Bessemer Group Inc. now owns 2,486,139 shares of the company’s stock valued at $127,986,000 after purchasing an additional 534,776 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Bentley Systems by 5.7% in the third quarter. Envestnet Asset Management Inc. now owns 954,867 shares of the company’s stock valued at $49,157,000 after purchasing an additional 51,883 shares during the period. Finally, Aviso Financial Inc. purchased a new stake in Bentley Systems in the third quarter worth about $930,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

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.