Bentley Systems (NASDAQ:BSY) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems (NASDAQ:BSY) in a research report sent to investors on Monday, Marketbeat Ratings reports. The firm issued a neutral rating and a $52.00 target price on the stock.

Other research analysts have also recently issued reports about the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Friday, November 8th. Piper Sandler lifted their target price on shares of Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.43.

Bentley Systems Stock Down 2.3 %

Shares of BSY opened at $48.62 on Monday. Bentley Systems has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The company’s fifty day moving average is $49.17 and its two-hundred day moving average is $49.54. The firm has a market cap of $14.13 billion, a PE ratio of 43.80, a price-to-earnings-growth ratio of 4.25 and a beta of 1.03. 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 (NASDAQ:BSY) last issued its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The business had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. During the same period last year, the company posted $0.18 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts forecast that Bentley Systems will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is 21.62%.

Insider Buying and Selling

In other Bentley Systems news, Director Barry J. Bentley sold 34,987 shares of Bentley Systems stock in a transaction on Monday, October 7th. The stock was sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the sale, the director now owns 12,213,248 shares of the company’s stock, valued at $590,754,805.76. The trade was a 0.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 234,987 shares of company stock worth $11,667,821 in the last three months. 21.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Bentley Systems

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Bentley Systems by 4,618.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after buying an additional 508 shares in the last quarter. GAMMA Investing LLC raised its position in Bentley Systems by 90.1% in the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after acquiring an additional 273 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Bentley Systems in the 3rd quarter valued at about $30,000. Blue Trust Inc. boosted its position in shares of Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after purchasing an additional 685 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after buying an additional 276 shares in the last quarter. Institutional investors and hedge funds 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.