BMO Capital Markets Forecasts Strong Price Appreciation for Bentley Systems (NASDAQ:BSY) Stock

Bentley Systems (NASDAQ:BSY) had its target price lifted by investment analysts at BMO Capital Markets from $41.00 to $43.00 in a research report issued on Friday, Marketbeat reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 21.61% from the stock’s current price.

Other analysts have also issued research reports about the company. Mizuho reduced their target price on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $42.00 to $45.00 in a research note on Friday, May 8th. UBS Group cut their price target on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Barclays reduced their price target on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, May 29th. Finally, BNP Paribas Exane initiated coverage on shares of Bentley Systems in a research report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Moderate Buy” and an average target price of $45.00.

Bentley Systems Trading Down 1.9%

BSY opened at $35.36 on Friday. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 40.18, a P/E/G ratio of 2.32 and a beta of 0.98. The stock’s 50 day moving average price is $32.09 and its 200-day moving average price is $33.94. Bentley Systems has a one year low of $28.08 and a one year high of $57.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The firm had revenue of $410.73 million for the quarter, compared to the consensus estimate of $412.12 million. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts forecast that Bentley Systems will post 1.2 EPS for the current year.

Institutional Investors Weigh In On Bentley Systems

Large investors have recently modified their holdings of the business. Baillie Gifford & Co. boosted its stake in Bentley Systems by 54,633.0% in the 4th quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock worth $11,384,000 after purchasing an additional 297,750 shares in the last quarter. SummitTX Capital L.P. grew its position in Bentley Systems by 74.9% during the 1st quarter. SummitTX Capital L.P. now owns 104,520 shares of the company’s stock worth $3,671,000 after purchasing an additional 44,774 shares during the last quarter. Comerica Bank increased its stake in Bentley Systems by 106.8% during the 4th quarter. Comerica Bank now owns 61,147 shares of the company’s stock valued at $2,334,000 after purchasing an additional 31,576 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Bentley Systems by 25.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 166,493 shares of the company’s stock valued at $6,352,000 after purchasing an additional 33,456 shares in the last quarter. Finally, State of Michigan Retirement System purchased a new position in shares of Bentley Systems in the fourth quarter worth $1,343,000. 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.