Brokerages Set Bentley Systems, Incorporated (NASDAQ:BSY) Price Target at $57.29

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have been given an average recommendation of “Moderate Buy” by the seven research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $57.00.

A number of brokerages have recently commented on BSY. Piper Sandler lowered their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. initiated coverage on Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $45.77 on Friday. The company has a 50 day simple moving average of $47.24 and a two-hundred day simple moving average of $48.51. The stock has a market cap of $13.31 billion, a price-to-earnings ratio of 41.23, a PEG ratio of 3.48 and a beta of 1.03. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems has a 12 month low of $43.82 and a 12 month high of $57.19.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $335.17 million during the quarter, compared to the consensus estimate of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. As a group, analysts predict that Bentley Systems will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.52%. Bentley Systems’s dividend payout ratio (DPR) is 21.62%.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.12% of the stock is owned by corporate insiders.

Institutional Trading of Bentley Systems

A number of institutional investors have recently made changes to their positions in BSY. Cetera Investment Advisers lifted its holdings in Bentley Systems by 1.1% in the 2nd quarter. Cetera Investment Advisers now owns 31,449 shares of the company’s stock valued at $1,552,000 after purchasing an additional 352 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Bentley Systems in the second quarter valued at about $3,976,000. Central Pacific Bank Trust Division lifted its stake in shares of Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after buying an additional 276 shares in the last quarter. SG Americas Securities LLC boosted its position in Bentley Systems by 933.6% during the third quarter. SG Americas Securities LLC now owns 28,279 shares of the company’s stock worth $1,437,000 after acquiring an additional 25,543 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Bentley Systems by 41.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock valued at $67,222,000 after acquiring an additional 390,000 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

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.