Bentley Systems (NASDAQ:BSY) Price Target Raised to $43.00

Key Points

• BMO Capital Markets raised Bentley Systems’ price target from $41 to $43 and maintained an “outperform” rating, implying 21.61% upside from the prior close.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $45, although recent ratings range from “buy” to “sell.”
• Bentley Systems exceeded quarterly EPS expectations, reporting $0.35 versus the $0.32 consensus, while revenue rose 12.8% year over year to $410.73 million.

Bentley Systems (NASDAQ:BSY - Get Free Report) had its price target raised by BMO Capital Markets from $41.00 to $43.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' price target indicates a potential upside of 21.61% from the stock's previous close.

BSY has been the topic of a number of other reports. Weiss Ratings downgraded shares of Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, July 16th. Bank of America assumed coverage on shares of Bentley Systems in a report on Tuesday, May 12th. They set a "buy" rating and a $40.00 price objective for the company. Barclays reduced their target price on Bentley Systems from $49.00 to $40.00 and set an "equal weight" rating on the stock in a report on Friday, May 29th. BNP Paribas Exane assumed coverage on Bentley Systems in a research report on Thursday, June 18th. They issued an "outperform" rating and a $40.00 target price on the stock. Finally, UBS Group dropped their price target on Bentley Systems from $43.00 to $40.00 and set a "neutral" rating for the company in a research note on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.00.

Bentley Systems Trading Down 1.9%

BSY stock opened at $35.36 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. Bentley Systems has a 1-year low of $28.08 and a 1-year high of $57.25. The business has a 50 day simple moving average of $32.09 and a two-hundred day simple moving average of $33.94. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 40.18, a PEG ratio of 2.32 and a beta of 0.98.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm had revenue of $410.73 million for the quarter, compared to analysts' expectations of $412.12 million. During the same quarter last year, the business posted $0.32 earnings per share. The company's revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts anticipate that Bentley Systems will post 1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Bentley Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB boosted its holdings in shares of Bentley Systems by 4.8% in the 1st quarter. Swedbank AB now owns 9,000,000 shares of the company's stock worth $316,080,000 after purchasing an additional 410,799 shares during the period. Arrowstreet Capital Limited Partnership lifted its position 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 worth $167,924,000 after buying an additional 3,429,087 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Bentley Systems by 150.9% during the first 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 period. Geode Capital Management LLC boosted its stake in Bentley Systems by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 3,468,512 shares of the company's stock worth $132,060,000 after buying an additional 216,257 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Bentley Systems by 8.9% during the fourth quarter. Bank of New York Mellon Corp now owns 3,185,756 shares of the company's stock worth $121,584,000 after buying an additional 259,780 shares during the period. 44.16% of the stock is currently 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.

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