Bentley Systems (NASDAQ:BSY) Upgraded to Buy at Wall Street Zen

Bentley Systems (NASDAQ:BSY - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Tuesday.

BSY has been the subject of a number of other reports. UBS Group raised their price objective on Bentley Systems from $48.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Rosenblatt Securities decreased their price objective on Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a report on Monday, May 5th. KeyCorp lifted their target price on Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a report on Monday. JPMorgan Chase & Co. dropped their target price on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Finally, Royal Bank Of Canada lifted their target price on Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Bentley Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.30.

Bentley Systems Stock Performance

Shares of BSY traded up $0.12 during mid-day trading on Tuesday, reaching $56.02. The company's stock had a trading volume of 1,178,017 shares, compared to its average volume of 1,248,600. Bentley Systems has a 1-year low of $36.51 and a 1-year high of $56.37. The stock has a market cap of $16.35 billion, a P/E ratio of 70.91, a PEG ratio of 4.51 and a beta of 1.09. The business has a 50-day simple moving average of $49.23 and a two-hundred day simple moving average of $45.99. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.05. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The company had revenue of $370.54 million during the quarter, compared to analysts' expectations of $366.76 million. During the same period last year, the firm posted $0.31 earnings per share. The business's revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts anticipate that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CRO Brock Ballard sold 12,363 shares of Bentley Systems stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the transaction, the executive owned 68,064 shares in the company, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David R. Shaman sold 19,156 shares of Bentley Systems stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $54.98, for a total value of $1,053,196.88. Following the completion of the transaction, the insider owned 670,558 shares in the company, valued at approximately $36,867,278.84. The trade was a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,181,519 shares of company stock worth $60,257,023 in the last quarter. Insiders own 20.56% of the company's stock.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently modified their holdings of BSY. Charles Schwab Investment Management Inc. increased its stake in shares of Bentley Systems by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company's stock valued at $49,161,000 after purchasing an additional 15,372 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Bentley Systems during the 4th quarter worth $809,000. Arizona State Retirement System grew its position in Bentley Systems by 2.1% during the 4th quarter. Arizona State Retirement System now owns 46,398 shares of the company's stock worth $2,167,000 after acquiring an additional 943 shares during the last quarter. Johnson Investment Counsel Inc. grew its position in Bentley Systems by 16.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 81,863 shares of the company's stock worth $3,823,000 after acquiring an additional 11,560 shares during the last quarter. Finally, Tortoise Investment Management LLC grew its position in Bentley Systems by 76.9% during the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company's stock worth $78,000 after acquiring an additional 728 shares during 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.