Bentley Systems (NASDAQ:BSY) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Bentley Systems (NASDAQ:BSY) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other research analysts also recently commented on the stock. Barclays raised their target price on shares of Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a research report on Friday, March 6th. Piper Sandler lowered their price target on shares of Bentley Systems from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. BMO Capital Markets restated an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. UBS Group lowered their price target on shares of Bentley Systems from $60.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Finally, Rosenblatt Securities lowered their price target on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

Bentley Systems Trading Down 7.3%

NASDAQ BSY opened at $32.65 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 2.36 and a beta of 1.16. The company’s 50-day simple moving average is $35.69 and its two-hundred day simple moving average is $40.05. Bentley Systems has a one year low of $30.83 and a one year high of $59.25.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Thursday, February 26th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. The business had revenue of $391.58 million for the quarter, compared to the consensus estimate of $381.79 million. Bentley Systems had a net margin of 18.50% and a return on equity of 28.82%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS. Equities analysts forecast that Bentley Systems will post 1.23 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Tuesday, March 10th were paid a $0.07 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. Bentley Systems’s dividend payout ratio (DPR) is 32.56%.

Institutional Trading of Bentley Systems

A number of institutional investors have recently bought and sold shares of BSY. Geneos Wealth Management Inc. boosted its stake in Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares in the last quarter. Invesco Ltd. boosted its stake in Bentley Systems by 2.6% in the 2nd quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock worth $20,242,000 after purchasing an additional 9,557 shares in the last quarter. First Trust Advisors LP boosted its stake in Bentley Systems by 97.5% in the 2nd quarter. First Trust Advisors LP now owns 160,644 shares of the company’s stock worth $8,670,000 after purchasing an additional 79,286 shares in the last quarter. Brown Advisory Inc. acquired a new stake in Bentley Systems in the 2nd quarter worth approximately $212,000. Finally, Cresset Asset Management LLC acquired a new stake in Bentley Systems in the 2nd quarter worth approximately $248,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

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.