Brokerages Set Bentley Systems, Incorporated (NASDAQ:BSY) Price Target at $56.14

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $56.14.

A number of equities research analysts recently weighed in on BSY shares. JPMorgan Chase & Co. initiated coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company. Piper Sandler reduced their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Oppenheimer cut shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Tuesday, February 25th. Finally, Robert W. Baird decreased their price target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $41.88 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average price of $44.77 and a 200 day moving average price of $47.31. The firm has a market capitalization of $12.21 billion, a PE ratio of 37.73, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. Bentley Systems has a 12-month low of $39.98 and a 12-month high of $57.19.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Wednesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s payout ratio is currently 38.36%.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the sale, the director now directly owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. This represents a 0.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 21.12% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

Several large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Bentley Systems by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock worth $49,161,000 after purchasing an additional 15,372 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Bentley Systems during the fourth quarter worth about $809,000. Principal Financial Group Inc. lifted its holdings in Bentley Systems by 20.5% during the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock worth $10,396,000 after acquiring an additional 34,871 shares in the last quarter. Bar Harbor Wealth Management acquired a new position in Bentley Systems in the fourth quarter valued at about $8,413,000. Finally, Needham Investment Management LLC bought a new stake in shares of Bentley Systems in the third quarter worth about $2,134,000. Institutional investors own 44.16% of the company’s stock.

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.