UBS Group Cuts Bentley Systems (NASDAQ:BSY) Price Target to $40.00

Key Points

• UBS Group cut its price target on Bentley Systems from $43 to $40 and maintained a "neutral" rating, implying roughly a 19% upside from the current share price.
• Analyst sentiment is mixed but tilted positive — the consensus is a Moderate Buy with an average target of $48.50, while individual ratings range from Strong Buy to Sell.
• Bentley shares traded at $33.60 (market cap ≈ $9.8B); the company reported quarterly EPS of $0.27 in line with estimates and revenue of $391.6M, up 11.9% year-over-year.

Bentley Systems (NASDAQ:BSY - Get Free Report) had its price objective decreased by research analysts at UBS Group from $43.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's target price would suggest a potential upside of 19.05% from the company's current price.

A number of other analysts also recently commented on the stock. Weiss Ratings downgraded shares of Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, April 15th. Piper Sandler cut their price objective on shares of Bentley Systems from $45.00 to $42.00 and set a "neutral" rating on the stock in a research report on Monday, March 2nd. Robert W. Baird set a $55.00 price target on Bentley Systems in a report on Wednesday, January 7th. Zacks Research upgraded shares of Bentley Systems from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 22nd. Finally, Royal Bank Of Canada reduced their target price on Bentley Systems from $65.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Bentley Systems presently has an average rating of "Moderate Buy" and an average target price of $48.50.

Bentley Systems Price Performance

Shares of Bentley Systems stock traded up $0.04 during trading on Monday, reaching $33.60. The company's stock had a trading volume of 1,967,390 shares, compared to its average volume of 2,861,995. The business has a 50 day moving average price of $35.57 and a 200-day moving average price of $39.22. The company has a market capitalization of $9.80 billion, a P/E ratio of 39.07, a price-to-earnings-growth ratio of 2.25 and a beta of 1.01. Bentley Systems has a 12-month low of $30.83 and a 12-month high of $59.25. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.05.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.The business had revenue of $391.58 million for the quarter, compared to analysts' expectations of $381.79 million. During the same quarter last year, the firm earned $0.21 earnings per share. The business's revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Bentley Systems will post 1.23 EPS for the current year.

Institutional Investors Weigh In On Bentley Systems

A number of institutional investors have recently added to or reduced their stakes in the business. Shell Asset Management Co. raised its stake in Bentley Systems by 4.8% during the third quarter. Shell Asset Management Co. now owns 5,421 shares of the company's stock worth $279,000 after buying an additional 246 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Bentley Systems by 2.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company's stock valued at $589,000 after purchasing an additional 247 shares during the last quarter. BLB&B Advisors LLC increased its position in shares of Bentley Systems by 0.5% during the 3rd quarter. BLB&B Advisors LLC now owns 52,361 shares of the company's stock valued at $2,696,000 after purchasing an additional 261 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ grew its stake in shares of Bentley Systems by 0.6% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,722 shares of the company's stock worth $2,560,000 after acquiring an additional 275 shares during the period. Finally, Cresset Asset Management LLC grew its stake in shares of Bentley Systems by 6.5% during the 3rd quarter. Cresset Asset Management LLC now owns 4,882 shares of the company's stock worth $251,000 after acquiring an additional 296 shares during the period. 44.16% of the stock is owned by institutional investors.

Bentley Systems Company Profile

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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