Bentley Systems (NASDAQ:BSY) Lifted to Hold at Zacks Investment Research


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Bentley Systems (NASDAQ:BSY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Bentley Systems Incorporated is a provider of software solutions to engineers, architects, geospatial professionals, constructors and owner-operators for the design, construction and operations of infrastructure. Bentley Systems Incorporated is based in Exton, Pennsylvania. “

BSY has been the subject of a number of other reports. Robert W. Baird began coverage on Bentley Systems in a research report on Monday, October 19th. They issued an “outperform” rating and a $43.00 price objective for the company. KeyCorp assumed coverage on Bentley Systems in a research report on Monday, October 19th. They issued a “sector weight” rating for the company. Berenberg Bank assumed coverage on Bentley Systems in a research report on Wednesday, October 14th. They set a “buy” rating and a $41.00 price objective for the company. Bank of America assumed coverage on Bentley Systems in a research report on Monday, October 19th. They set a “neutral” rating and a $44.00 price objective for the company. Finally, ValuEngine cut Bentley Systems from a “buy” rating to a “hold” rating in a research report on Monday, November 2nd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.50.

Shares of BSY stock opened at $52.00 on Tuesday. The firm’s 50 day moving average is $38.83. The company has a debt-to-equity ratio of 82.19, a current ratio of 0.80 and a quick ratio of 0.80. Bentley Systems has a twelve month low of $27.00 and a twelve month high of $53.85.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Tuesday, November 10th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $203.00 million for the quarter, compared to analysts’ expectations of $197.33 million. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts predict that Bentley Systems will post 0.55 earnings per share for the current year.

In related news, insider David J. Hollister sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 17th. The stock was sold at an average price of $30.80, for a total value of $9,240,000.00. Following the completion of the transaction, the insider now directly owns 3,763,831 shares of the company’s stock, valued at approximately $115,925,994.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kirk B. Griswold sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 17th. The shares were sold at an average price of $30.80, for a total value of $770,000.00. Following the completion of the transaction, the director now directly owns 542,823 shares of the company’s stock, valued at $16,718,948.40. The disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new position in Bentley Systems in the 3rd quarter valued at approximately $17,386,000. BlackRock Inc. purchased a new position in Bentley Systems during the third quarter worth $11,776,000. TD Asset Management Inc. purchased a new position in Bentley Systems during the third quarter worth $7,730,000. Rivulet Capital LLC purchased a new position in Bentley Systems during the third quarter worth $7,065,000. Finally, Federated Hermes Inc. purchased a new position in Bentley Systems during the third quarter worth $6,177,000. 4.85% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Company Profile

Bentley Systems, Incorporated develops software for infrastructure design, construction, and operations. It provides MicroStation, a modeling, documentation, and visualization solution for information modeling; ProjectWise, a project information management and collaboration solution; AssetWise, an asset information management solution; PlantSight, a digital solution to benefit customers through plant operations; and SYNCHRO XR for HoloLens 2 that enables users to interact collaboratively with digital construction models using gestures to plan, visualize, and experience construction sequencing.

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