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

Bentley Systems, Incorporated (NASDAQ:BSY) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $57.29.

BSY has been the subject of several research analyst reports. Piper Sandler dropped their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective on the stock.

Bentley Systems Trading Up 1.4 %

Shares of BSY stock opened at $46.55 on Friday. The business’s fifty day moving average price is $47.49 and its 200 day moving average price is $48.60. The firm has a market capitalization of $13.53 billion, a PE ratio of 41.94, a P/E/G ratio of 3.41 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 1-year low of $43.82 and a 1-year high of $57.19.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $340.36 million. During the same period in the prior year, the company posted $0.18 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that Bentley Systems will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is presently 21.62%.

Insider Buying and Selling

In other news, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the transaction, the director now owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. This represents a 0.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 21.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSY. Point72 Hong Kong Ltd purchased a new stake in Bentley Systems during the third quarter worth approximately $30,000. Central Pacific Bank Trust Division boosted its position in Bentley Systems by 57.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares during the period. Tobam acquired a new stake in Bentley Systems in the 4th quarter valued at $55,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Bentley Systems by 500.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $61,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Bentley Systems by 71.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,105 shares of the company’s stock valued at $107,000 after purchasing an additional 880 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

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.