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

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $59.50.

Several equities analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group lowered their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler boosted their price objective on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th.

Insider Buying and Selling at Bentley Systems

In other news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 12,298,230 shares in the company, valued at $617,371,146. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 326,032 shares of company stock valued at $16,168,176 in the last three months. 21.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in shares of Bentley Systems in the third quarter worth about $59,400,000. Vanguard Group Inc. increased its position in Bentley Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after buying an additional 134,516 shares during the period. Montanaro Asset Management Ltd lifted its holdings in shares of Bentley Systems by 8.8% during the third quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock worth $16,839,000 after buying an additional 26,741 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Bentley Systems in the first quarter valued at approximately $608,000. Finally, Clearline Capital LP acquired a new stake in shares of Bentley Systems in the second quarter worth $6,999,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Trading Down 3.1 %

NASDAQ:BSY opened at $46.59 on Monday. The firm has a market capitalization of $13.54 billion, a P/E ratio of 41.97, a P/E/G ratio of 3.89 and a beta of 1.04. The business has a 50 day simple moving average of $49.40 and a 200 day simple moving average of $50.18. 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 12-month low of $43.82 and a 12-month high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts predict that Bentley Systems will post 0.9 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s payout ratio is 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.