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

Rosenblatt Securities reiterated their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a research report sent to investors on Monday morning, Benzinga reports. Rosenblatt Securities currently has a $62.00 price objective on the stock.

Several other research analysts have also weighed in on BSY. Royal Bank of Canada reissued an outperform rating and set a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. The Goldman Sachs Group decreased their price objective 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. Finally, Piper Sandler reissued an overweight rating and set a $63.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $59.57.

Bentley Systems Price Performance

BSY opened at $49.36 on Monday. The company has a fifty day simple moving average of $49.03 and a 200 day simple moving average of $50.55. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 46.13, a PEG ratio of 4.08 and a beta of 1.03. Bentley Systems has a twelve month low of $43.82 and a twelve month high of $57.19. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36.

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

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is presently 22.43%.

Insider Activity

In other news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of the transaction, the director now directly owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 21.12% of the company’s stock.

Institutional Trading of Bentley Systems

Several hedge funds have recently bought and sold shares of BSY. Allspring Global Investments Holdings LLC raised its position in shares of Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after buying an additional 508 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after buying an additional 273 shares in the last quarter. Blue Trust Inc. raised its position in shares of Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after buying an additional 685 shares in the last quarter. Tortoise Investment Management LLC raised its position in shares of Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after buying an additional 358 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Bentley Systems during the 2nd quarter worth about $43,000. 44.16% of the stock is currently owned by institutional investors.

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.