Brokerages Set Bentley Systems, Incorporated (NASDAQ:BSY) PT at $45.00

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $45.00.

A number of equities research analysts have weighed in on BSY shares. Bank of America started coverage on shares of Bentley Systems in a report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price target for the company. BMO Capital Markets increased their target price on shares of Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler upgraded shares of Bentley Systems from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $42.00 to $45.00 in a report on Friday, May 8th. Barclays reduced their target price on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, May 29th. Finally, Zacks Research cut Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st.

Hedge Funds Weigh In On Bentley Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. boosted its stake in Bentley Systems by 54,633.0% in the 4th quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock worth $11,384,000 after purchasing an additional 297,750 shares during the period. SummitTX Capital L.P. lifted its holdings in shares of Bentley Systems by 74.9% in the first quarter. SummitTX Capital L.P. now owns 104,520 shares of the company’s stock valued at $3,671,000 after purchasing an additional 44,774 shares in the last quarter. Comerica Bank lifted its holdings in shares of Bentley Systems by 106.8% in the fourth quarter. Comerica Bank now owns 61,147 shares of the company’s stock valued at $2,334,000 after purchasing an additional 31,576 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Bentley Systems by 25.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 166,493 shares of the company’s stock valued at $6,352,000 after purchasing an additional 33,456 shares in the last quarter. Finally, State of Michigan Retirement System acquired a new stake in shares of Bentley Systems in the fourth quarter worth $1,343,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Key Bentley Systems News

Here are the key news stories impacting Bentley Systems this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Bentley Systems from $41 to $43 and upgraded the stock to “outperform,” implying substantial upside from recent levels. The Fly
• Positive Sentiment: Second-quarter EPS beat expectations: BSY reported adjusted earnings of $0.35 per share versus the $0.32 consensus and $0.32 a year earlier. Revenue increased 12.8% year over year to $410.7 million, indicating continued growth. Bentley Systems Surpasses Q2 Earnings Estimates
• Positive Sentiment: Management’s outlook is supported by strong performances from the Seequent and Power Line Systems businesses, robust small- and medium-sized business annual recurring revenue growth, and healthy net revenue retention. Improving architecture billings and non-residential construction spending may also support demand. Bentley Systems: Bullish on Q2 EPS Beat and Improving Industry Trends
• Positive Sentiment: Coverage of BSY’s AI strategy and product expansion suggests that new technology initiatives and favorable infrastructure-sector trends could provide additional longer-term growth catalysts. BSY Q2 Deep Dive
• Neutral Sentiment: The quarterly revenue result was broadly in line with expectations, but it came in modestly below the $412.1 million analyst estimate. Investors may therefore focus on future bookings, recurring-revenue trends, and guidance for evidence that growth can accelerate. BSY Q2 Earnings Results

Bentley Systems Trading Down 0.4%

Bentley Systems stock opened at $35.21 on Thursday. The firm has a 50 day simple moving average of $32.14 and a 200-day simple moving average of $33.95. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.51. The stock has a market capitalization of $10.29 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98. Bentley Systems has a 12-month low of $28.08 and a 12-month high of $57.25.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, August 6th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.The firm had revenue of $410.73 million for the quarter, compared to analysts’ expectations of $412.12 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts expect that Bentley Systems will post 1.2 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s payout ratio is presently 31.82%.

About Bentley Systems

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.