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

Cantor Fitzgerald upgraded shares of Bentley Systems (NASDAQ:BSY) to a strong-buy rating in a research report released on Monday,Zacks reports.

A number of other equities analysts have also recently weighed in on BSY. Barclays lowered their price objective on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, May 29th. Rosenblatt Securities reissued a “buy” rating and issued a $50.00 target price on shares of Bentley Systems in a research report on Monday, August 10th. Weiss Ratings upgraded Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. BMO Capital Markets raised their price target on Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Bentley Systems in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Bentley Systems has an average rating of “Moderate Buy” and a consensus target price of $44.38.

Bentley Systems Trading Up 0.6%

NASDAQ BSY opened at $31.88 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $9.26 billion, a P/E ratio of 35.03, a PEG ratio of 2.00 and a beta of 0.98. The firm’s 50-day moving average is $34.23 and its two-hundred day moving average is $33.96. Bentley Systems has a 12 month low of $28.08 and a 12 month high of $57.25.

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

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd will be issued a $0.07 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. Bentley Systems’s payout ratio is 30.77%.

Institutional Investors Weigh In On Bentley Systems

Several large investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased its holdings in Bentley Systems by 253.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock valued at $167,924,000 after buying an additional 3,429,087 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in 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 buying an additional 2,803,241 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Bentley Systems during the 2nd quarter worth about $78,738,000. Norges Bank acquired a new position in shares of Bentley Systems during the 4th quarter worth about $68,766,000. Finally, Madison Asset Management LLC acquired a new position in shares of Bentley Systems during the 2nd quarter worth about $40,807,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Company Profile

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.