Bentley Systems (NASDAQ:BSY) Receives “Buy” Rating from Bank of America

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating reaffirmed by analysts at Bank of America in a research report issued on Tuesday,Benzinga reports. They presently have a $40.00 price target on the stock. Bank of America‘s target price would suggest a potential upside of 22.55% from the company’s current price.

Several other research analysts have also commented on BSY. Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $42.00 to $45.00 in a research report on Friday. Oppenheimer decreased their target price on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Weiss Ratings lowered Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. BMO Capital Markets reiterated an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Finally, Zacks Research raised Bentley Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.69.

Bentley Systems Price Performance

Shares of BSY opened at $32.64 on Tuesday. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.20 and a beta of 1.01. The stock has a 50 day moving average of $35.50 and a 200-day moving average of $38.57. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91. Bentley Systems has a 52 week low of $30.83 and a 52 week high of $59.25.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, May 7th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $424.18 million during the quarter, compared to analyst estimates of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. As a group, analysts forecast that Bentley Systems will post 1.23 EPS for the current year.

Institutional Trading of Bentley Systems

Hedge funds have recently made changes to their positions in the stock. AGF Management Ltd. raised its stake in Bentley Systems by 64.2% during the 3rd quarter. AGF Management Ltd. now owns 180,633 shares of the company’s stock valued at $9,299,000 after acquiring an additional 70,650 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Bentley Systems during the 3rd quarter valued at $122,028,000. Rakuten Investment Management Inc. bought a new stake in Bentley Systems during the 3rd quarter valued at $4,305,000. Baillie Gifford & Co. raised its stake in Bentley Systems by 54,633.0% during the 4th quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock valued at $11,384,000 after acquiring an additional 297,750 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Bentley Systems by 5.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 954,867 shares of the company’s stock valued at $49,157,000 after acquiring an additional 51,883 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

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.