Bentley Systems, Incorporated (NASDAQ:BSY) Given Consensus Recommendation of “Buy” by Brokerages

Bentley Systems, Incorporated (NASDAQ:BSYGet Rating) has been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $50.21.

A number of research analysts recently weighed in on BSY shares. The Goldman Sachs Group decreased their target price on shares of Bentley Systems from $60.00 to $52.00 in a research report on Tuesday, March 1st. Royal Bank of Canada decreased their target price on shares of Bentley Systems from $55.00 to $46.00 in a research report on Wednesday, May 11th. Bank of America decreased their target price on shares of Bentley Systems from $60.00 to $50.00 in a research report on Tuesday, May 10th. KeyCorp decreased their target price on shares of Bentley Systems from $72.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, March 2nd. Finally, Mizuho decreased their target price on shares of Bentley Systems from $53.00 to $45.00 in a research report on Wednesday, May 11th.

In related news, Director Raymond B. Bentley sold 130,036 shares of Bentley Systems stock in a transaction dated Wednesday, April 27th. The shares were sold at an average price of $41.58, for a total transaction of $5,406,896.88. Following the completion of the sale, the director now owns 17,386,870 shares of the company’s stock, valued at approximately $722,946,054.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raymond B. Bentley sold 104,340 shares of Bentley Systems stock in a transaction dated Friday, April 22nd. The stock was sold at an average price of $42.73, for a total transaction of $4,458,448.20. Following the sale, the director now directly owns 17,860,832 shares of the company’s stock, valued at approximately $763,193,351.36. The disclosure for this sale can be found here. In the last three months, insiders sold 592,577 shares of company stock valued at $25,285,068. Insiders own 22.53% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new stake in Bentley Systems in the 1st quarter worth about $27,000. Covestor Ltd acquired a new stake in Bentley Systems in the 4th quarter worth about $30,000. National Bank of Canada FI acquired a new stake in Bentley Systems in the 4th quarter worth about $31,000. CI Investments Inc. acquired a new stake in Bentley Systems in the 3rd quarter worth about $37,000. Finally, Tobam acquired a new stake in Bentley Systems in the 4th quarter worth about $40,000. 33.12% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:BSY opened at $30.99 on Tuesday. Bentley Systems has a 12 month low of $26.32 and a 12 month high of $71.92. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 4.09. The company’s fifty day simple moving average is $40.32 and its 200 day simple moving average is $44.02. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 110.68, a PEG ratio of 10.79 and a beta of 0.88.

Bentley Systems (NASDAQ:BSYGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $275.52 million for the quarter, compared to analyst estimates of $268.65 million. Bentley Systems had a net margin of 8.84% and a return on equity of 55.22%. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. Research analysts expect that Bentley Systems will post 0.57 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 8th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Monday, March 7th. Bentley Systems’s dividend payout ratio (DPR) is presently 42.86%.

Bentley Systems Company Profile (Get Rating)

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.

Further Reading

Analyst Recommendations for Bentley Systems (NASDAQ:BSY)

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