Bentley Systems (NASDAQ:BSY) Raised to Hold at Barclays

Key Points

• Bentley Systems has been upgraded to a "hold" rating by analysts at Barclays, amidst mixed ratings from other financial institutions.
• The stock is currently priced at $50.91, with a 1-year high of $59.25 and a low of $36.51, while showing a 3.1% decline in recent trading.
• In its latest earnings report, Bentley Systems reported $364.11 million in revenue and an EPS of $0.32, surpassing analyst expectations.

Bentley Systems (NASDAQ:BSY - Get Free Report) was upgraded by analysts at Barclays to a "hold" rating in a report released on Tuesday,Zacks.com reports.

A number of other equities analysts also recently weighed in on the stock. Robert W. Baird set a $64.00 target price on shares of Bentley Systems and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. UBS Group lifted their price objective on Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Rosenblatt Securities cut Bentley Systems from a "buy" rating to a "neutral" rating and raised their target price for the stock from $53.00 to $58.00 in a research note on Thursday, August 7th. Piper Sandler boosted their price target on Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group increased their price target on Bentley Systems from $42.00 to $47.00 and gave the stock a "sell" rating in a report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $56.64.

Bentley Systems Trading Down 3.1%

Shares of BSY stock opened at $50.91 on Tuesday. Bentley Systems has a 1-year low of $36.51 and a 1-year high of $59.25. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. The stock has a market cap of $14.87 billion, a price-to-earnings ratio of 64.44, a PEG ratio of 4.24 and a beta of 1.07. The stock has a 50-day moving average of $53.75 and a 200-day moving average of $50.21.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The business had revenue of $364.11 million for the quarter, compared to analysts' expectations of $363.51 million. During the same period in the prior year, the business posted $0.31 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. On average, equities research analysts forecast that Bentley Systems will post 0.88 earnings per share for the current year.

Insider Activity

In other news, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the sale, the insider directly owned 647,609 shares of the company's stock, valued at $36,887,808.64. The trade was a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 20,713 shares of company stock worth $1,180,690 in the last ninety days. 20.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bentley Systems

Institutional investors have recently bought and sold shares of the stock. Allworth Financial LP lifted its stake in Bentley Systems by 37.6% during the 2nd quarter. Allworth Financial LP now owns 702 shares of the company's stock valued at $38,000 after acquiring an additional 192 shares in the last quarter. Thrive Wealth Management LLC lifted its position in shares of Bentley Systems by 2.5% during the third quarter. Thrive Wealth Management LLC now owns 8,301 shares of the company's stock valued at $427,000 after purchasing an additional 200 shares in the last quarter. Genesis Private Wealth LLC lifted its position in shares of Bentley Systems by 5.4% during the third quarter. Genesis Private Wealth LLC now owns 3,967 shares of the company's stock valued at $204,000 after purchasing an additional 204 shares in the last quarter. Blue Trust Inc. boosted its holdings in Bentley Systems by 19.3% during the second quarter. Blue Trust Inc. now owns 1,305 shares of the company's stock worth $70,000 after purchasing an additional 211 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its position in Bentley Systems by 3.7% in the 1st quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company's stock worth $333,000 after purchasing an additional 301 shares in the last quarter. Institutional investors own 44.16% of the company's stock.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.

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