Bentley Systems, Incorporated (NASDAQ:BSY) Given Average Rating of “Moderate Buy” by Brokerages

Bentley Systems, Incorporated (NASDAQ:BSY) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $59.50.

A number of research analysts recently commented on BSY shares. Piper Sandler increased their price target on shares of Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 8th. The Goldman Sachs Group lowered their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th.

Insider Activity at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. This represents a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the sale, the director now directly owns 12,148,235 shares of the company’s stock, valued at approximately $618,588,126.20. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock worth $16,168,176 over the last three months. Company insiders own 21.12% of the company’s stock.

Institutional Trading of Bentley Systems

Several large investors have recently bought and sold shares of BSY. Swedbank AB grew its stake in Bentley Systems by 514.5% during the 2nd quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock valued at $204,069,000 after acquiring an additional 3,461,500 shares in the last quarter. Impax Asset Management Group plc acquired a new position in shares of Bentley Systems in the 3rd quarter worth approximately $88,771,000. Fiera Capital Corp acquired a new position in shares of Bentley Systems in the 3rd quarter worth approximately $42,773,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Bentley Systems by 3.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock worth $778,832,000 after acquiring an additional 586,458 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Bentley Systems by 67.9% in the 2nd quarter. Creative Planning now owns 1,091,058 shares of the company’s stock worth $53,855,000 after acquiring an additional 441,316 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Up 1.5 %

NASDAQ:BSY opened at $48.51 on Monday. The business has a fifty day moving average price of $49.30 and a 200-day moving average price of $49.96. The firm has a market capitalization of $14.10 billion, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 4.08 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems has a one year low of $43.82 and a one year high of $57.19.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. Sell-side analysts forecast that Bentley Systems will post 0.88 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 dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. Bentley Systems’s dividend payout ratio is presently 21.62%.

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.