Bentley Systems (NASDAQ:BSY) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a report released on Friday morning,Benzinga reports. They currently have a $62.00 price objective on the stock.

BSY has been the subject of a number of other reports. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. The Goldman Sachs Group reduced their price target on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Piper Sandler increased their price objective on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Bentley Systems Stock Performance

BSY traded down $2.51 during midday trading on Friday, hitting $48.58. 1,122,696 shares of the company traded hands, compared to its average volume of 1,212,321. The company’s 50-day moving average is $49.48 and its 200 day moving average is $50.41. The firm has a market capitalization of $14.12 billion, a PE ratio of 42.61, a price-to-earnings-growth ratio of 4.10 and a beta of 1.04. Bentley Systems has a 52 week low of $43.82 and a 52 week high of $57.19. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. The company had revenue of $330.34 million during the quarter, compared to the consensus estimate of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. Bentley Systems’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $0.20 earnings per share. On average, research analysts expect that Bentley Systems will post 0.9 EPS for the current year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio is currently 21.05%.

Insider Activity

In related news, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the sale, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the sale, the director now directly owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barry J. Bentley sold 34,987 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $48.37, for a total value of $1,692,321.19. Following the completion of the transaction, the director now directly owns 12,213,248 shares in the company, valued at $590,754,805.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 326,032 shares of company stock worth $16,168,176. 21.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bentley Systems

A number of large investors have recently added to or reduced their stakes in BSY. Norden Group LLC acquired a new stake in Bentley Systems in the first quarter valued at about $224,000. Nordea Investment Management AB boosted its position in Bentley Systems by 7.9% in the first quarter. Nordea Investment Management AB now owns 15,569 shares of the company’s stock worth $814,000 after purchasing an additional 1,146 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Bentley Systems by 6.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 40,326 shares of the company’s stock worth $2,106,000 after purchasing an additional 2,571 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Bentley Systems by 70.8% in the first quarter. Oppenheimer & Co. Inc. now owns 14,259 shares of the company’s stock valued at $745,000 after buying an additional 5,912 shares during the period. Finally, Forsta AP Fonden raised its stake in shares of Bentley Systems by 45.0% during the 1st quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $3,316,000 after purchasing an additional 19,700 shares during the period. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Company Profile

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.