Bentley Systems, Incorporated (NASDAQ:BSY) Receives $59.57 Consensus PT from Analysts

Bentley Systems, Incorporated (NASDAQ:BSY) has been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $59.57.

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

Insider Buying and Selling

In related 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 completion of the sale, the director now directly owns 12,298,230 shares in the company, valued at approximately $617,371,146. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the transaction, the director now owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.20, for a total value 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,032 shares of company stock worth $13,720,676. 21.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds have recently bought and sold shares of BSY. Vanguard Group Inc. raised its position in Bentley Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock valued at $1,162,002,000 after purchasing an additional 134,516 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Bentley Systems by 3.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock valued at $778,832,000 after purchasing an additional 586,458 shares in the last quarter. Swedbank AB raised its position in Bentley Systems by 24.2% in the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock valued at $260,874,000 after purchasing an additional 1,000,000 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Bentley Systems by 41.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock valued at $67,222,000 after acquiring an additional 390,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Bentley Systems by 7.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company’s stock valued at $60,839,000 after acquiring an additional 85,565 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Price Performance

BSY opened at $48.86 on Thursday. The business’s 50-day moving average is $49.73 and its two-hundred day moving average is $50.47. Bentley Systems has a 1 year low of $43.82 and a 1 year high of $57.19. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $14.09 billion, a PE ratio of 45.66, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.08. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The company had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. Research analysts anticipate that Bentley Systems will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s payout ratio is 22.43%.

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.