Bentley Systems (NASDAQ:BSY) Rating Lowered to Hold at Zacks Investment Research

Last updated on Friday, July 23, 2021 | 2021 MarketBeat

Bentley Systems (NASDAQ:BSY) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued on Friday, Zacks.com reports.

According to Zacks, "Bentley Systems Incorporated is a provider of software solutions to engineers, architects, geospatial professionals, constructors and owner-operators for the design, construction and operations of infrastructure. Bentley Systems Incorporated is based in Exton, Pennsylvania. "

Several other brokerages also recently issued reports on BSY. KeyCorp increased their price target on Bentley Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday. Griffin Securities started coverage on Bentley Systems in a report on Friday, July 16th. They set a "neutral" rating and a $59.47 price objective for the company. Robert W. Baird increased their price objective on Bentley Systems from $50.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Mizuho increased their price objective on Bentley Systems from $53.00 to $74.00 and gave the stock a "buy" rating in a report on Monday, June 14th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of "Buy" and an average price target of $53.61.

NASDAQ:BSY traded down $0.10 during mid-day trading on Friday, hitting $60.94. The company had a trading volume of 369,786 shares, compared to its average volume of 1,215,344. Bentley Systems has a fifty-two week low of $27.00 and a fifty-two week high of $67.00. The company has a fifty day moving average price of $60.71. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $16.16 billion and a price-to-earnings ratio of 108.82.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Monday, May 10th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The business had revenue of $222.00 million during the quarter, compared to the consensus estimate of $214.26 million. The business's quarterly revenue was up 14.0% compared to the same quarter last year. As a group, research analysts anticipate that Bentley Systems will post 0.56 earnings per share for the current year.

In related news, Director Barry J. Bentley sold 22,185 shares of Bentley Systems stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $60.90, for a total transaction of $1,351,066.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Richard P. Bentley sold 87,971 shares of Bentley Systems stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $51.20, for a total value of $4,504,115.20. Following the sale, the insider now directly owns 509,278 shares of the company's stock, valued at $26,075,033.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,106,711 shares of company stock valued at $61,971,253. Corporate insiders own 24.00% of the company's stock.

A number of institutional investors have recently bought and sold shares of BSY. The Manufacturers Life Insurance Company increased its stake in Bentley Systems by 449.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,786,857 shares of the company's stock worth $83,857,000 after acquiring an additional 1,461,403 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in Bentley Systems by 22.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,552,973 shares of the company's stock worth $260,601,000 after acquiring an additional 1,019,421 shares during the period. Neuberger Berman Group LLC bought a new position in Bentley Systems during the 1st quarter worth $28,044,000. TD Asset Management Inc. increased its stake in shares of Bentley Systems by 65.7% in the 1st quarter. TD Asset Management Inc. now owns 1,086,669 shares of the company's stock valued at $50,997,000 after purchasing an additional 431,053 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Bentley Systems by 37.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,372,737 shares of the company's stock valued at $55,610,000 after purchasing an additional 371,455 shares during the last quarter. Hedge funds and other institutional investors own 24.39% 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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenWindPower, OpenTower, STAAD and RAM, LEAP and RM, SACS, MOSES, PLAXIS, SITEOPS, AutoPIPE, and LumenRT.

Further Reading: Trading on Margin

Get a free copy of the Zacks research report on Bentley Systems (BSY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Bentley Systems (NASDAQ:BSY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is the Stochastic Momentum Index (SMI)?


7 Sports Betting Stocks That Will Shine Beyond March Madness

One of the many consequences of the novel coronavirus was the shutdown of live sports. For sports-minded individuals, one of the events that were missed the most was the NCAA Basketball Tournament affectionately known as March Madness.

But in addition to missing the entertainment that sports provide, cities and states realized, if they didn’t already, that sports are an economic necessity.

Live sports may also be a key to their post-pandemic future. But this goes beyond hotels and restaurants.

Sports betting has become big business. Currently, 25 states and the District of Columbia have legalized sports betting either by statute or by ballot initiative. That list is likely to grow. Many states face budget deficits and want to legalize sports betting for the revenue that it could receive.

And this is about more than allowing gamblers to place bets via a sportsbook in a casino. The real driver for this is mobile sports betting. According to the American Gaming Association, over 47 million people are expected to place bets during the NCAA basketball tournament, with approximately one-third of those bets (17.8 million) being placed online.

To help you take advantage of this still-emerging trend, we’ve put together this special presentation. Here we’ll highlight seven sports betting stocks that should generate significant revenue during March Madness and beyond.

View the "7 Sports Betting Stocks That Will Shine Beyond March Madness".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.