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

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

BSY has been the subject of several other research reports. Oppenheimer upped their price target on shares of Bentley Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Rosenblatt Securities reduced their price target on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating for the company in a research report on Monday, May 5th. The Goldman Sachs Group lowered shares of Bentley Systems from a "neutral" rating to a "sell" rating and reduced their price target for the company from $51.00 to $42.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their price target on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Finally, UBS Group upped their price target on shares of Bentley Systems from $48.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $52.00.

Bentley Systems Stock Performance

NASDAQ:BSY traded up $0.01 during mid-day trading on Friday, reaching $50.73. The company's stock had a trading volume of 2,809,714 shares, compared to its average volume of 1,226,568. Bentley Systems has a 12-month low of $36.51 and a 12-month high of $52.03. The firm's fifty day moving average price is $46.62 and its two-hundred day moving average price is $45.50. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13. The stock has a market cap of $14.81 billion, a P/E ratio of 64.22, a PEG ratio of 4.26 and a beta of 1.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, topping 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 business had revenue of $370.54 million during the quarter, compared to analyst estimates of $366.76 million. During the same quarter in the previous year, the firm earned $0.31 EPS. Bentley Systems's revenue was up 9.7% on a year-over-year basis. On average, equities analysts forecast that Bentley Systems will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Bentley Systems news, Director Raymond B. Bentley sold 273,094 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $50.30, for a total transaction of $13,736,628.20. Following the completion of the sale, the director now directly owns 15,719,227 shares of the company's stock, valued at $790,677,118.10. This trade represents a 1.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Brock Ballard sold 12,363 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the sale, the executive now directly owns 68,064 shares of the company's stock, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 640,560 shares of company stock valued at $32,034,898. 20.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bentley Systems

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its position in shares of Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock valued at $26,000 after acquiring an additional 627 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Bentley Systems during the 1st quarter valued at approximately $984,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Bentley Systems by 2.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 895,213 shares of the company's stock valued at $35,218,000 after acquiring an additional 24,258 shares during the last quarter. Caxton Associates LLP bought a new position in shares of Bentley Systems during the 1st quarter valued at approximately $1,006,000. Finally, Voleon Capital Management LP boosted its position in shares of Bentley Systems by 858.1% during the 1st quarter. Voleon Capital Management LP now owns 41,803 shares of the company's stock valued at $1,645,000 after acquiring an additional 37,440 shares during the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Company Profile

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.