Analysts Set Bentley Systems, Incorporated (NASDAQ:BSY) Price Target at $58.44

Bentley Systems, Incorporated (NASDAQ:BSY) has been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $58.44.

Several equities research analysts have recently issued reports on BSY shares. William Blair began coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They set an “outperform” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, February 28th. Robert W. Baird boosted their price objective on Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $60.00 price objective on shares of Bentley Systems in a research note on Tuesday, April 30th. Finally, Piper Sandler restated an “overweight” rating and set a $60.00 target price on shares of Bentley Systems in a research report on Wednesday, February 28th.

Bentley Systems Trading Up 2.9 %

NASDAQ:BSY opened at $53.24 on Thursday. The firm has a fifty day simple moving average of $50.81 and a two-hundred day simple moving average of $50.88. Bentley Systems has a 12 month low of $41.59 and a 12 month high of $55.37. The stock has a market capitalization of $15.22 billion, a price-to-earnings ratio of 53.78, a PEG ratio of 5.21 and a beta of 1.08. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The business had revenue of $310.64 million for the quarter, compared to analysts’ expectations of $313.67 million. During the same period in the previous year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts expect that Bentley Systems will post 0.82 EPS for the current fiscal year.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were paid a $0.06 dividend. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Tuesday, March 19th. Bentley Systems’s payout ratio is 24.24%.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $49.48, for a total value of $4,400,009.00. Following the transaction, the director now owns 17,164,179 shares in the company, valued at $849,283,576.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the sale, the director now owns 17,150,752 shares in the company, valued at $943,291,360. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Keith A. Bentley sold 88,925 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the transaction, the director now directly owns 17,164,179 shares in the company, valued at $849,283,576.92. The disclosure for this sale can be found here. Company insiders own 21.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Bentley Systems in the 3rd quarter worth about $354,000. Simplicity Solutions LLC lifted its holdings in shares of Bentley Systems by 10.9% during the third quarter. Simplicity Solutions LLC now owns 4,522 shares of the company’s stock valued at $227,000 after purchasing an additional 445 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Bentley Systems by 36.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 41,487 shares of the company’s stock worth $2,081,000 after purchasing an additional 11,012 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Bentley Systems by 17.1% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 70,613 shares of the company’s stock worth $3,542,000 after buying an additional 10,300 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Bentley Systems by 60.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 28,121 shares of the company’s stock valued at $1,411,000 after buying an additional 10,545 shares in the last quarter. Hedge funds and other institutional investors 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.