Brokerages Anticipate Bentley Systems, Incorporated (NASDAQ:BSY) Will Announce Quarterly Sales of $268.40 Million

Equities research analysts expect Bentley Systems, Incorporated (NASDAQ:BSYGet Rating) to report sales of $268.40 million for the current quarter, Zacks reports. Three analysts have issued estimates for Bentley Systems’ earnings, with estimates ranging from $263.00 million to $271.20 million. Bentley Systems posted sales of $222.93 million during the same quarter last year, which suggests a positive year-over-year growth rate of 20.4%. The company is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Bentley Systems will report full year sales of $1.12 billion for the current fiscal year, with estimates ranging from $1.12 billion to $1.13 billion. For the next year, analysts forecast that the company will post sales of $1.23 billion, with estimates ranging from $1.21 billion to $1.24 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Bentley Systems.

Bentley Systems (NASDAQ:BSYGet Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $275.52 million during the quarter, compared to the consensus estimate of $268.65 million. Bentley Systems had a net margin of 8.84% and a return on equity of 55.22%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share.

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Bentley Systems from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Friday, May 20th. Mizuho decreased their price objective on shares of Bentley Systems from $53.00 to $45.00 in a research report on Wednesday, May 11th. Oppenheimer assumed coverage on shares of Bentley Systems in a research report on Thursday, May 19th. They issued an “outperform” rating and a $40.00 price objective for the company. Bank of America decreased their price objective on shares of Bentley Systems from $60.00 to $50.00 in a research report on Tuesday, May 10th. Finally, The Goldman Sachs Group reduced their target price on shares of Bentley Systems from $60.00 to $52.00 in a report on Tuesday, March 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $47.50.

In other news, Director Raymond B. Bentley sold 104,340 shares of the business’s stock in a transaction that occurred on Friday, April 22nd. The shares were sold at an average price of $42.73, for a total value of $4,458,448.20. Following the completion of the transaction, the director now directly owns 17,860,832 shares in the company, valued at approximately $763,193,351.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Raymond B. Bentley sold 213,547 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $42.66, for a total transaction of $9,109,915.02. Following the completion of the transaction, the director now owns 17,647,285 shares of the company’s stock, valued at $752,833,178.10. The disclosure for this sale can be found here. Insiders sold a total of 592,577 shares of company stock valued at $25,285,068 in the last quarter. Corporate insiders own 22.53% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Utah Retirement Systems increased its position in Bentley Systems by 2.9% during the 3rd quarter. Utah Retirement Systems now owns 7,200 shares of the company’s stock worth $437,000 after purchasing an additional 200 shares in the last quarter. Xponance Inc. increased its position in Bentley Systems by 1.5% during the 1st quarter. Xponance Inc. now owns 15,801 shares of the company’s stock worth $698,000 after purchasing an additional 233 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Bentley Systems by 1.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 20,179 shares of the company’s stock worth $975,000 after purchasing an additional 335 shares in the last quarter. IFM Investors Pty Ltd increased its position in Bentley Systems by 1.7% during the 4th quarter. IFM Investors Pty Ltd now owns 24,394 shares of the company’s stock worth $1,179,000 after purchasing an additional 398 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in Bentley Systems by 28.7% during the 1st quarter. Lazard Asset Management LLC now owns 2,123 shares of the company’s stock worth $93,000 after purchasing an additional 473 shares in the last quarter. Institutional investors and hedge funds own 33.12% of the company’s stock.

Bentley Systems stock opened at $34.38 on Wednesday. The company has a fifty day simple moving average of $39.00 and a 200 day simple moving average of $42.01. Bentley Systems has a 1-year low of $26.32 and a 1-year high of $71.92. The company has a market cap of $9.49 billion, a P/E ratio of 122.79, a price-to-earnings-growth ratio of 6.23 and a beta of 0.88. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 4.09.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Shareholders of record on Thursday, June 9th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Wednesday, June 8th. Bentley Systems’s dividend payout ratio (DPR) is 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.

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