Bentley Systems (NASDAQ:BSY) Upgraded at Zacks Research

Zacks Research upgraded shares of Bentley Systems (NASDAQ:BSY) from a hold rating to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Rosenblatt Securities decreased their price objective on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Piper Sandler decreased their price objective on shares of Bentley Systems from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Oppenheimer decreased their price objective on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Finally, Weiss Ratings lowered shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.50.

Bentley Systems Trading Up 2.4%

Shares of NASDAQ:BSY opened at $33.44 on Wednesday. The business’s 50-day moving average is $35.67 and its 200 day moving average is $39.88. Bentley Systems has a 1 year low of $30.83 and a 1 year high of $59.25. The firm has a market capitalization of $9.76 billion, a P/E ratio of 38.88, a P/E/G ratio of 2.19 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.56 and a quick ratio of 0.56.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, February 26th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $391.58 million for the quarter, compared to analyst estimates of $381.79 million. Bentley Systems had a return on equity of 28.82% and a net margin of 18.50%.The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. On average, research analysts predict that Bentley Systems will post 1.23 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Tuesday, March 10th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, March 10th. Bentley Systems’s dividend payout ratio is 32.56%.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently bought and sold shares of BSY. AGF Management Ltd. boosted its position in Bentley Systems by 64.2% in the 3rd quarter. AGF Management Ltd. now owns 180,633 shares of the company’s stock worth $9,299,000 after purchasing an additional 70,650 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Bentley Systems in the 3rd quarter worth approximately $122,028,000. Rakuten Investment Management Inc. purchased a new stake in Bentley Systems in the 3rd quarter worth approximately $4,305,000. Envestnet Asset Management Inc. boosted its position in Bentley Systems by 5.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 954,867 shares of the company’s stock worth $49,157,000 after purchasing an additional 51,883 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Bentley Systems by 90.8% in the 3rd quarter. Pacer Advisors Inc. now owns 676,740 shares of the company’s stock worth $34,839,000 after purchasing an additional 322,012 shares in the last quarter. Institutional investors and hedge funds 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.