Bentley Systems (NASDAQ:BSY) Price Target Raised to $47.00

Bentley Systems (NASDAQ:BSY) had its price objective raised by The Goldman Sachs Group from $42.00 to $47.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a sell rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Rosenblatt Securities cut shares of Bentley Systems from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $58.00 in a research note on Thursday. Oppenheimer boosted their price objective on shares of Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group boosted their price objective on shares of Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday. Mizuho lowered their price target on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, Wall Street Zen cut shares of Bentley Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.60.

Bentley Systems Stock Performance

Shares of BSY opened at $53.49 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.49 and a current ratio of 0.51. The stock has a market capitalization of $15.62 billion, a P/E ratio of 67.71, a P/E/G ratio of 4.35 and a beta of 1.10. The company’s fifty day moving average is $54.04 and its two-hundred day moving average is $47.67. Bentley Systems has a 1 year low of $36.51 and a 1 year high of $59.25.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $364.11 million for the quarter, compared to analysts’ expectations of $363.51 million. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. Bentley Systems’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. On average, sell-side analysts predict that Bentley Systems will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were given a $0.07 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. Bentley Systems’s payout ratio is currently 35.44%.

Insider Buying and Selling

In other Bentley Systems news, Director Keith A. Bentley sold 150,000 shares of the company’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the transaction, the director directly owned 3,859,327 shares in the company, valued at approximately $214,347,021.58. This represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David R. Shaman sold 19,348 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the transaction, the insider owned 647,609 shares in the company, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,189,869 shares of company stock worth $60,880,388 in the last three months. Corporate insiders own 20.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSY. Arrowstreet Capital Limited Partnership purchased a new position in Bentley Systems in the 4th quarter valued at about $422,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of Bentley Systems by 46.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,377 shares of the company’s stock worth $298,000 after acquiring an additional 2,015 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in shares of Bentley Systems during the 4th quarter worth about $2,224,000. Aviva PLC purchased a new position in shares of Bentley Systems during the 4th quarter worth about $4,207,000. Finally, FIL Ltd lifted its holdings in shares of Bentley Systems by 100.5% during the 4th quarter. FIL Ltd now owns 7,384 shares of the company’s stock worth $345,000 after acquiring an additional 3,702 shares during the period. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

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.