Bentley Systems (NASDAQ:BSY) Raised to Buy at Rosenblatt Securities

Bentley Systems (NASDAQ:BSY) was upgraded by equities researchers at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm currently has a $58.00 target price on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 13.06% from the company’s previous close.

A number of other brokerages also recently weighed in on BSY. KeyCorp lifted their target price on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Oppenheimer lifted their target price on shares of Bentley Systems from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Robert W. Baird set a $64.00 price target on shares of Bentley Systems and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Wall Street Zen cut shares of Bentley Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group raised their price target on shares of Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.64.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $51.30 on Friday. Bentley Systems has a twelve month low of $36.51 and a twelve month high of $59.25. The firm has a fifty day simple moving average of $52.97 and a 200 day simple moving average of $50.74. The company has a market capitalization of $14.98 billion, a PE ratio of 64.94, a P/E/G ratio of 4.14 and a beta of 1.07. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The business had revenue of $364.11 million during the quarter, compared to the consensus estimate of $363.51 million. During the same quarter last year, the firm earned $0.31 earnings per share. Bentley Systems’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that Bentley Systems will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its holdings in shares of Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares during the last quarter. Twin Tree Management LP grew its holdings in shares of Bentley Systems by 361.9% during the first quarter. Twin Tree Management LP now owns 739 shares of the company’s stock valued at $29,000 after buying an additional 579 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Bentley Systems by 1,707.1% during the first quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock valued at $30,000 after buying an additional 717 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock valued at $33,000 after buying an additional 435 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Bentley Systems by 37.6% during the second quarter. Allworth Financial LP now owns 702 shares of the company’s stock valued at $38,000 after buying an additional 192 shares during the last quarter. 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.