Bentley Systems (NASDAQ:BSY) Coverage Initiated at BMO Capital Markets

Equities research analysts at BMO Capital Markets began coverage on shares of Bentley Systems (NASDAQ:BSY) in a report issued on Thursday, MarketBeat.com reports. The firm set an “outperform” rating and a $48.00 price target on the stock. BMO Capital Markets’ price target indicates a potential upside of 23.58% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Oppenheimer lowered their price target on shares of Bentley Systems from $65.00 to $53.00 and set an “outperform” rating on the stock in a report on Tuesday. Rosenblatt Securities reissued a “buy” rating and set a $58.00 price objective on shares of Bentley Systems in a research report on Thursday, November 6th. Royal Bank Of Canada dropped their target price on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Robert W. Baird set a $55.00 price target on Bentley Systems in a research note on Wednesday, January 7th. Finally, Piper Sandler reduced their price target on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.00.

Bentley Systems Trading Down 0.9%

Shares of NASDAQ BSY opened at $38.84 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. Bentley Systems has a one year low of $36.51 and a one year high of $59.25. The business has a 50-day moving average price of $40.13 and a two-hundred day moving average price of $48.64. The firm has a market capitalization of $11.34 billion, a PE ratio of 46.24, a PEG ratio of 2.71 and a beta of 1.21.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. The business had revenue of $375.55 million during the quarter, compared to analyst estimates of $369.57 million. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. As a group, analysts predict that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of Bentley Systems

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in Bentley Systems by 20,094.5% in the 4th quarter. Farther Finance Advisors LLC now owns 215,273 shares of the company’s stock valued at $8,216,000 after buying an additional 214,207 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Bentley Systems by 38.1% during the 4th quarter. State of Alaska Department of Revenue now owns 67,334 shares of the company’s stock valued at $2,569,000 after acquiring an additional 18,580 shares in the last quarter. Baillie Gifford & Co. increased its stake in Bentley Systems by 54,633.0% in the fourth 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 during the period. Dara Capital US Inc. acquired a new position in Bentley Systems in the fourth quarter worth about $127,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Bentley Systems by 9.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 372,134 shares of the company’s stock worth $14,202,000 after purchasing an additional 33,312 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

Bentley Systems Company Profile

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.