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

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

Other equities analysts also recently issued research reports about the stock. KeyCorp raised their target price on shares of Bentley Systems from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Rosenblatt Securities cut their price target on Bentley Systems from $62.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Royal Bank of Canada raised their price objective on Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Mizuho lowered their price objective on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group cut Bentley Systems from a “neutral” rating to a “sell” rating and cut their target price for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Bentley Systems Price Performance

BSY opened at $49.34 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a market cap of $14.40 billion, a price-to-earnings ratio of 44.45, a price-to-earnings-growth ratio of 3.52 and a beta of 1.07. The stock has a fifty day simple moving average of $45.70 and a two-hundred day simple moving average of $45.44. Bentley Systems has a 12-month low of $36.51 and a 12-month high of $52.12.

Bentley Systems (NASDAQ:BSY) last issued 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. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company had revenue of $370.54 million during the quarter, compared to analyst estimates of $366.76 million. During the same period last year, the business earned $0.31 EPS. Bentley Systems’s quarterly revenue was up 9.7% compared to the same quarter last year. Research analysts predict that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Bentley Systems

In related news, CRO Brock Ballard sold 12,363 shares of Bentley Systems stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the completion of the sale, the executive now directly owns 68,064 shares in the company, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 20.56% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. boosted its holdings in shares of Bentley Systems by 8,187,760.9% during the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company’s stock valued at $74,086,000 after acquiring an additional 1,883,185 shares during the last quarter. Vanguard Group Inc. lifted its position in Bentley Systems by 5.3% during the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock valued at $708,114,000 after purchasing an additional 898,115 shares during the period. Impax Asset Management Group plc lifted its position in Bentley Systems by 41.9% during the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock valued at $115,719,000 after purchasing an additional 736,369 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in Bentley Systems by 591.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company’s stock worth $26,446,000 after purchasing an additional 475,361 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new stake in Bentley Systems in the first quarter worth approximately $15,960,000. Institutional investors own 44.16% of the company’s stock.

About Bentley Systems

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.