Bentley Systems, Incorporated (NASDAQ:BSY) Receives $61.29 Average Target Price from Analysts

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have received an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $61.29.

Several brokerages recently issued reports on BSY. Piper Sandler reissued an “overweight” rating and set a $63.00 target price (up previously from $60.00) on shares of Bentley Systems in a research note on Wednesday, May 8th. William Blair began coverage on Bentley Systems in a research note on Thursday, March 28th. They set an “outperform” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, February 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Bentley Systems in a research note on Tuesday, April 30th. Finally, Mizuho lifted their price objective on Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $51.57 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.53. Bentley Systems has a 12-month low of $44.76 and a 12-month high of $57.19. The firm has a market capitalization of $14.88 billion, a price-to-earnings ratio of 48.20, a price-to-earnings-growth ratio of 4.54 and a beta of 1.04. The firm has a 50 day moving average of $52.56 and a 200 day moving average of $51.24.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. The firm had revenue of $337.76 million for the quarter, compared to analysts’ expectations of $335.00 million. On average, research analysts anticipate that Bentley Systems will post 0.85 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, June 4th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Tuesday, June 4th. Bentley Systems’s dividend payout ratio is presently 22.43%.

Insider Activity

In other news, Director Keith A. Bentley sold 118,949 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total value of $6,543,384.49. Following the transaction, the director now directly owns 17,031,803 shares of the company’s stock, valued at $936,919,483.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Keith A. Bentley sold 118,949 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total transaction of $6,543,384.49. Following the sale, the director now directly owns 17,031,803 shares of the company’s stock, valued at $936,919,483.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Keith A. Bentley sold 59,420 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $55.01, for a total value of $3,268,694.20. Following the sale, the director now directly owns 16,972,383 shares in the company, valued at $933,650,788.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,390 shares of company stock valued at $10,748,234. Company insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

A number of hedge funds have recently bought and sold shares of BSY. Private Trust Co. NA boosted its position in Bentley Systems by 87.3% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $28,000 after purchasing an additional 254 shares in the last quarter. Fifth Third Bancorp boosted its position in Bentley Systems by 97.4% during the fourth quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock worth $39,000 after purchasing an additional 371 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Bentley Systems by 496.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 900 shares of the company’s stock worth $47,000 after purchasing an additional 749 shares in the last quarter. Van ECK Associates Corp purchased a new position in Bentley Systems during the fourth quarter worth approximately $72,000. Finally, Global Retirement Partners LLC lifted its position in shares of Bentley Systems by 439.4% in the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the company’s stock valued at $73,000 after acquiring an additional 1,226 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.