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

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have received a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $58.43.

BSY has been the topic of a number of recent research reports. 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 research report on Friday, November 8th. JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective 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 firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $50.92, for a total value of $2,546,000.00. Following the completion of the transaction, the director now owns 12,148,235 shares in the company, valued at $618,588,126.20. This trade represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the sale, the director now directly owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,573 shares of company stock valued at $10,712,472 in the last 90 days. Insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new stake in shares of Bentley Systems in the third quarter worth $59,400,000. Principal Financial Group Inc. grew its position in Bentley Systems by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after purchasing an additional 34,871 shares during the last quarter. Needham Investment Management LLC bought a new stake in Bentley Systems during the 3rd quarter valued at about $2,134,000. Mirabella Financial Services LLP raised its holdings in Bentley Systems by 1,155.0% in the third quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock worth $5,018,000 after buying an additional 92,768 shares during the last quarter. Finally, Montanaro Asset Management Ltd lifted its stake in shares of Bentley Systems by 8.8% in 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 in the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $46.87 on Tuesday. The business’s 50-day moving average price is $48.34 and its two-hundred day moving average price is $49.01. Bentley Systems has a twelve month low of $43.82 and a twelve month high of $57.19. The stock has a market cap of $13.63 billion, a P/E ratio of 42.23, a PEG ratio of 4.04 and a beta of 1.04. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. Bentley Systems’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share. As a group, equities analysts predict that Bentley Systems will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 0.51%. 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.