Bentley Systems (NASDAQ:BSY) Cut to Market Perform at Oppenheimer

Oppenheimer lowered shares of Bentley Systems (NASDAQ:BSY) from an outperform rating to a market perform rating in a research report released on Thursday, Marketbeat.com reports.

Several other brokerages have also recently weighed in on BSY. Piper Sandler reduced their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. initiated 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. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.14.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $43.90 on Thursday. 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 has a twelve month low of $42.46 and a twelve month high of $57.19. The stock has a market cap of $12.80 billion, a price-to-earnings ratio of 39.55, a P/E/G ratio of 3.52 and a beta of 1.03. The company’s fifty day moving average is $46.46 and its 200 day moving average is $48.29.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.64%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is 38.36%.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the transaction, the director now owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. This represents a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently made changes to their positions in BSY. Swedbank AB boosted its position in shares of Bentley Systems by 24.2% during the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock worth $260,874,000 after purchasing an additional 1,000,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Bentley Systems by 94.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,499 shares of the company’s stock worth $584,000 after purchasing an additional 5,596 shares in the last quarter. Diversify Wealth Management LLC boosted its position in shares of Bentley Systems by 2.2% during the 3rd quarter. Diversify Wealth Management LLC now owns 20,192 shares of the company’s stock worth $993,000 after purchasing an additional 428 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Bentley Systems by 14.4% during the 3rd quarter. Stephens Inc. AR now owns 8,971 shares of the company’s stock worth $456,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in shares of Bentley Systems by 32.0% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 8,385 shares of the company’s stock worth $426,000 after purchasing an additional 2,035 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

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.