Bentley Systems (NASDAQ:BSY) Lowered to “Hold” Rating by Zacks Research

Bentley Systems (NASDAQ:BSY) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. UBS Group decreased their price target on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. 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 target 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. Mizuho decreased their price target on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Finally, Bank of America began coverage on shares of Bentley Systems in a research report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price target for the company. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Bentley Systems has a consensus rating of “Hold” and a consensus target price of $47.69.

Bentley Systems Stock Down 0.5%

Shares of Bentley Systems stock opened at $33.16 on Thursday. The company has a fifty day moving average price of $34.39 and a 200 day moving average price of $37.49. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91. Bentley Systems has a twelve month low of $30.52 and a twelve month high of $59.25. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 37.68, a price-to-earnings-growth ratio of 2.09 and a beta of 1.01.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm had revenue of $424.18 million during the quarter, compared to analysts’ expectations of $419.80 million. During the same period in the prior year, the company earned $0.35 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. Equities research analysts forecast that Bentley Systems will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bentley Systems

Several large investors have recently modified their holdings of BSY. Arrowstreet Capital Limited Partnership lifted its position in shares of Bentley Systems by 253.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock worth $167,924,000 after purchasing an additional 3,429,087 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Bentley Systems during the third quarter worth about $150,903,000. Pictet Asset Management Holding SA lifted its position in shares of Bentley Systems by 150.9% during the first quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock worth $163,703,000 after purchasing an additional 2,803,241 shares during the last quarter. Norges Bank bought a new position in shares of Bentley Systems during the fourth quarter worth about $68,766,000. Finally, Vanguard Group Inc. lifted its position in shares of Bentley Systems by 10.7% during the third quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock worth $957,922,000 after purchasing an additional 1,792,591 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

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.