Bentley Systems, Incorporated (NASDAQ:BSY) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $59.57.

A number of research analysts have recently commented on BSY shares. The Goldman Sachs Group cut their price target on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Monday, September 16th. Piper Sandler restated an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th.

Insider Buying and Selling

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the sale, the director now directly owns 12,298,230 shares of the company’s stock, valued at $617,371,146. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the sale, the director now owns 12,298,230 shares in the company, valued at $617,371,146. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 $820,471,566.08. The disclosure for this sale can be found here. Company insiders own 21.12% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew 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 during the period. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 273 shares during the period. 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 valued at $36,000 after acquiring an additional 685 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in shares of Bentley Systems by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after purchasing an additional 358 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of Bentley Systems in the 2nd quarter worth $43,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $50.84 on Friday. The firm has a market capitalization of $14.67 billion, a PE ratio of 47.51, a PEG ratio of 4.19 and a beta of 1.03. Bentley Systems has a 1 year low of $43.82 and a 1 year 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. The firm’s fifty day simple moving average is $49.27 and its 200 day simple moving average is $50.59.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.08. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The company had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. During the same period last year, the business posted $0.20 earnings per share. The firm’s revenue was up 11.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Bentley Systems will post 0.9 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a $0.06 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. Bentley Systems’s payout ratio is currently 22.43%.

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.