Bentley Systems (NASDAQ:BSY) Now Covered by UBS Group

UBS Group started coverage on shares of Bentley Systems (NASDAQ:BSY) in a research note published on Monday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $48.00 price objective on the stock.

A number of other research analysts have also recently issued reports on BSY. Oppenheimer cut Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. The Goldman Sachs Group cut shares of Bentley Systems from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Tuesday, February 25th. Robert W. Baird cut their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Bentley Systems has an average rating of “Hold” and an average target price of $55.13.

Bentley Systems Trading Down 0.9 %

Shares of BSY stock opened at $39.34 on Monday. Bentley Systems has a fifty-two week low of $38.66 and a fifty-two week high of $57.19. The stock’s fifty day moving average price is $44.34 and its two-hundred day moving average price is $47.09. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market cap of $11.47 billion, a PE ratio of 35.44, a P/E/G ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.71%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is currently 38.36%.

Insider Activity

In related news, Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction on Thursday, January 2nd. The shares were 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 owns 16,705,028 shares of the company’s stock, valued at approximately $779,623,656.76. This trade represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Lansforsakringar Fondforvaltning AB publ bought a new position in Bentley Systems in the 4th quarter valued at about $2,392,000. Siemens Fonds Invest GmbH bought a new position in shares of Bentley Systems in the fourth quarter valued at approximately $391,000. Ameriflex Group Inc. bought a new position in shares of Bentley Systems in the fourth quarter valued at approximately $75,000. Cache Advisors LLC purchased a new position in shares of Bentley Systems during the fourth quarter valued at approximately $293,000. Finally, Voloridge Investment Management LLC grew its holdings in Bentley Systems by 187.6% during the fourth quarter. Voloridge Investment Management LLC now owns 324,175 shares of the company’s stock worth $15,139,000 after buying an additional 211,476 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

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.