Bentley Systems, Incorporated (NASDAQ:BSY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $59.57.

Several analysts recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Mizuho upped their price objective on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group dropped their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th.

Hedge Funds Weigh In On Bentley Systems

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Bentley Systems by 0.6% during the first quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after buying an additional 134,516 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Bentley Systems by 3.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock valued at $778,832,000 after purchasing an additional 586,458 shares during the last quarter. Swedbank AB raised its position in Bentley Systems by 514.5% in the second quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock valued at $204,069,000 after purchasing an additional 3,461,500 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Bentley Systems by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,430,019 shares of the company’s stock worth $74,618,000 after purchasing an additional 28,285 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Bentley Systems by 7.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company’s stock worth $60,839,000 after buying an additional 85,565 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

Shares of BSY stock opened at $48.69 on Wednesday. Bentley Systems has a 12-month low of $43.82 and a 12-month high of $57.19. The business’s fifty day simple moving average is $49.20 and its 200-day simple moving average is $50.76. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36. The company has a market cap of $14.15 billion, a PE ratio of 45.51, a PEG ratio of 4.30 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The business had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. Analysts expect that Bentley Systems will post 0.9 earnings per share for the current fiscal year.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.