Bentley Systems (NASDAQ:BSY) Stock Rating Upgraded by Cantor Fitzgerald

Bentley Systems (NASDAQ:BSY) was upgraded by Cantor Fitzgerald to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

A number of other equities analysts have also recently commented on the company. Weiss Ratings raised Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. Piper Sandler reiterated an “overweight” rating and set a $45.00 price target on shares of Bentley Systems in a research report on Friday, August 7th. BNP Paribas Exane initiated coverage on Bentley Systems in a report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price objective on the stock. BMO Capital Markets lifted their target price on shares of Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $50.00 target price on shares of Bentley Systems in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and an average price target of $44.38.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $31.88 on Monday. The stock has a market capitalization of $9.26 billion, a PE ratio of 35.03, a P/E/G ratio of 2.00 and a beta of 0.98. The company has a fifty day moving average of $34.23 and a two-hundred day moving average of $33.96. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Bentley Systems has a fifty-two week low of $28.08 and a fifty-two week high of $57.25.

Bentley Systems (NASDAQ:BSY) last released its quarterly 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 the consensus estimate of $412.12 million. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. As a group, research analysts forecast that Bentley Systems will post 1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BSY. Physician Wealth Advisors Inc. grew 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 valued at $28,000 after purchasing an additional 352 shares during the period. National Pension Service raised its stake in Bentley Systems by 63.0% during the fourth quarter. National Pension Service now owns 880 shares of the company’s stock worth $34,000 after purchasing an additional 340 shares during the period. CX Institutional raised its stake in Bentley Systems by 898.9% during the second quarter. CX Institutional now owns 939 shares of the company’s stock worth $28,000 after purchasing an additional 845 shares during the period. Summit Securities Group LLC acquired a new position in Bentley Systems in the 1st quarter valued at about $34,000. Finally, Harbor Investment Advisory LLC acquired a new position in Bentley Systems in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

About Bentley Systems

Bentley Systems, Incorporated develops software for professionals and organizations involved in the planning, design, construction and operation of infrastructure. Its solutions support sectors including transportation, water and wastewater, utilities, buildings, industrial facilities, mining and other public and private infrastructure markets.

The company’s product portfolio includes MicroStation for infrastructure design and modeling; ProjectWise for project collaboration and information management; AssetWise for asset performance and operations; OpenRoads and OpenBuildings for specialized design workflows; SYNCHRO for construction management; and the iTwin platform for creating and using digital twins of infrastructure assets.

Founded in 1984 by brothers Keith, Barry and Raymond Bentley, Bentley Systems is headquartered in Exton, Pennsylvania, and serves customers globally.