Bentley Systems’ (BSY) Overweight Rating Reaffirmed at Piper Sandler

Bentley Systems (NASDAQ:BSY)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Sandler in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $45.00 price objective on the stock. Piper Sandler’s price objective suggests a potential upside of 27.80% from the stock’s current price.

Other research analysts have also issued reports about the company. Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 16th. Mizuho cut their target price on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Barclays reduced their target price on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, May 29th. BNP Paribas Exane initiated coverage on Bentley Systems in a report on Thursday, June 18th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, BMO Capital Markets raised their price objective on shares of Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Bentley Systems Stock Performance

NASDAQ BSY opened at $35.21 on Friday. The firm’s 50 day simple moving average is $32.14 and its 200 day simple moving average is $33.91. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 38.69, a P/E/G ratio of 2.26 and a beta of 0.98. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Bentley Systems has a 1 year low of $28.08 and a 1 year high of $57.25.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in Bentley Systems in the fourth quarter worth $25,000. Geneos Wealth Management Inc. raised its holdings in 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 period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Bentley Systems in the third quarter valued at $37,000. IFP Advisors Inc lifted its holdings in Bentley Systems by 174.5% during the 3rd quarter. IFP Advisors Inc now owns 763 shares of the company’s stock worth $39,000 after purchasing an additional 485 shares in the last quarter. Finally, Physician Wealth Advisors Inc. lifted its holdings in shares of Bentley Systems by 80.2% in the first quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock worth $28,000 after buying an additional 352 shares in the last quarter. 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.