Bentley Systems, Incorporated (NASDAQ:BSY) Receives $58.43 Consensus Price Target from Analysts

Bentley Systems, Incorporated (NASDAQ:BSY) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $58.43.

A number of analysts have issued reports on BSY shares. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price on the stock. Piper Sandler raised their price objective on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research report on Friday, November 8th.

Insiders Place Their Bets

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the 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 sale, the director now owns 12,298,230 shares of the company’s stock, valued at $617,371,146. This represents a 0.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 234,987 shares of company stock worth $11,667,821 over the last quarter. Company insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors have recently modified their holdings of BSY. SG Americas Securities LLC bought a new stake in shares of Bentley Systems during the second quarter worth $135,000. Wealth Enhancement Advisory Services LLC bought a new stake in Bentley Systems during the 2nd quarter worth about $291,000. Envestnet Portfolio Solutions Inc. raised its holdings in Bentley Systems by 1.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 40,944 shares of the company’s stock worth $2,021,000 after purchasing an additional 618 shares during the last quarter. Blue Trust Inc. lifted its position in 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 during the period. Finally, Everpar Advisors LLC boosted its stake in shares of Bentley Systems by 5.8% in the 2nd quarter. Everpar Advisors LLC now owns 14,610 shares of the company’s stock valued at $721,000 after purchasing an additional 799 shares during the last quarter. 44.16% of the stock is owned by institutional investors.

Bentley Systems Stock Down 2.3 %

BSY opened at $47.13 on Friday. Bentley Systems has a twelve month low of $43.82 and a twelve month high of $57.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The business has a 50 day moving average price of $48.97 and a 200 day moving average price of $49.36. The firm has a market cap of $13.70 billion, a P/E ratio of 42.46, a price-to-earnings-growth ratio of 4.04 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $335.17 million during the quarter, compared to analysts’ expectations of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 earnings per share. Research analysts forecast that Bentley Systems will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.51%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

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.