Bentley Systems (NASDAQ:BSY) Given New $50.00 Price Target at Mizuho

Bentley Systems (NASDAQ:BSY) had its price target decreased by Mizuho from $60.00 to $50.00 in a research note published on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other analysts have also commented on the company. The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and decreased their target price for the company from $51.00 to $42.00 in a research report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. Oppenheimer upgraded shares of Bentley Systems from a “market perform” rating to an “outperform” rating and set a $49.00 price target for the company in a research note on Thursday, April 10th. UBS Group began coverage on shares of Bentley Systems in a research note on Monday, March 31st. They issued a “neutral” rating and a $48.00 price objective on the stock. Finally, Piper Sandler decreased their target price on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.56.

Bentley Systems Stock Down 0.9 %

Shares of NASDAQ BSY opened at $42.62 on Tuesday. Bentley Systems has a 12-month low of $36.51 and a 12-month high of $57.19. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a market cap of $12.43 billion, a PE ratio of 38.40, a P/E/G ratio of 3.52 and a beta of 1.06. The company’s fifty day simple moving average is $42.88 and its 200 day simple moving average is $46.29.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.66%. Bentley Systems’s payout ratio is 38.36%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the transaction, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. This represents a 0.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Several institutional investors have recently added to or reduced their stakes in BSY. Charles Schwab Investment Management Inc. boosted its stake in Bentley Systems by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock valued at $49,161,000 after acquiring an additional 15,372 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Bentley Systems in the fourth quarter valued at approximately $809,000. Principal Financial Group Inc. grew its holdings in Bentley Systems by 20.5% during the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after purchasing an additional 34,871 shares during the period. Bar Harbor Wealth Management purchased a new stake in Bentley Systems in the fourth quarter worth $8,413,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Bentley Systems by 10.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock valued at $49,211,000 after buying an additional 97,950 shares during the period. 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.