Bentley Systems (NASDAQ:BSY) Cut to “Hold” at Wall Street Zen

Bentley Systems (NASDAQ:BSY) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also recently weighed in on BSY. Robert W. Baird reduced their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Rosenblatt Securities reduced their target price on Bentley Systems from $62.00 to $53.00 and set a “buy” rating for the company in a report on Monday, May 5th. Mizuho reduced their target price on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. UBS Group increased their target price on Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, Royal Bank of Canada increased their target price on Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Bentley Systems Stock Up 0.3%

Shares of NASDAQ BSY opened at $49.34 on Friday. The firm has a 50-day simple moving average of $45.70 and a two-hundred day simple moving average of $45.50. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems has a 1 year low of $36.51 and a 1 year high of $52.12. The company has a market cap of $14.40 billion, a P/E ratio of 44.45, a PEG ratio of 3.52 and a beta of 1.07.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. The business had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 earnings per share. Research analysts anticipate that Bentley Systems will post 0.88 earnings per share for the current year.

Insider Activity

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction of $557,324.04. Following the transaction, the executive now owns 68,064 shares of the company’s stock, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 20.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in Bentley Systems by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock valued at $49,161,000 after acquiring an additional 15,372 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Bentley Systems in the 4th quarter valued at $809,000. Bank of New York Mellon Corp raised its holdings in Bentley Systems by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock valued at $49,211,000 after acquiring an additional 97,950 shares during the last quarter. Two Sigma Investments LP raised its holdings in Bentley Systems by 42.3% in the 4th quarter. Two Sigma Investments LP now owns 42,700 shares of the company’s stock valued at $1,994,000 after acquiring an additional 12,689 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Bentley Systems in the 4th quarter valued at $422,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Company Profile

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.