Bentley Systems, Incorporated (BSY) to Issue Quarterly Dividend of $0.07 on March 27th

Bentley Systems, Incorporated (NASDAQ:BSY) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Wednesday, March 19th will be paid a dividend of 0.07 per share on Thursday, March 27th. This represents a $0.28 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Wednesday, March 19th. This is a 16.7% increase from Bentley Systems’s previous quarterly dividend of $0.06.

Bentley Systems has raised its dividend by an average of 26.0% per year over the last three years. Bentley Systems has a payout ratio of 21.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bentley Systems to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 27.7%.

Bentley Systems Stock Up 3.3 %

Shares of BSY opened at $41.44 on Monday. The business’s fifty day moving average price is $45.37 and its two-hundred day moving average price is $47.69. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 3.52 and a beta of 1.04. Bentley Systems has a 52 week low of $39.98 and a 52 week high of $57.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Insider Activity

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction on Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.12% of the company’s stock.

Analysts Set New Price Targets

BSY has been the subject of a number of analyst reports. Robert W. Baird lowered their target price on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Piper Sandler decreased their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Oppenheimer lowered Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. began coverage on Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.14.

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.