Bentley Systems, Incorporated (NASDAQ:BSY) Given Average Recommendation of “Moderate Buy” by Brokerages

Bentley Systems, Incorporated (NASDAQ:BSY) has earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $59.57.

A number of analysts recently issued reports on BSY shares. Rosenblatt Securities reissued a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Monday, September 16th. The Goldman Sachs Group lowered their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th.

Bentley Systems Stock Up 0.4 %

Shares of NASDAQ BSY opened at $50.84 on Friday. The firm has a 50 day moving average price of $49.27 and a 200 day moving average price of $50.59. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market cap of $14.67 billion, a P/E ratio of 47.51, a P/E/G ratio of 4.19 and a beta of 1.03. Bentley Systems has a 52-week low of $43.82 and a 52-week high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The business had revenue of $330.34 million during the quarter, compared to analysts’ expectations of $325.20 million. During the same quarter in the prior year, the company earned $0.20 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. Analysts expect that Bentley Systems will post 0.9 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a $0.06 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.24 annualized dividend and a yield of 0.47%. Bentley Systems’s payout ratio is currently 22.43%.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the transaction, the director now owns 12,298,230 shares of the company’s stock, valued at approximately $617,371,146. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the transaction, the director now directly owns 12,298,230 shares in the company, valued at approximately $617,371,146. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the sale, the director now directly owns 16,598,656 shares in the company, valued at $820,471,566.08. The disclosure for this sale can be found here. Company insiders own 21.12% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Bentley Systems by 4,618.2% during 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 during the period. GAMMA Investing LLC raised its holdings in Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after acquiring an additional 273 shares during the period. Blue Trust Inc. lifted its position in Bentley Systems by 68,500.0% during the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after acquiring an additional 685 shares during the last quarter. Tortoise Investment Management LLC boosted its holdings in shares of Bentley Systems by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after acquiring an additional 358 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Bentley Systems in the second quarter valued at approximately $43,000. 44.16% of the stock is currently owned by institutional investors.

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.