Piper Sandler Issues Pessimistic Forecast for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY) had its price target decreased by Piper Sandler from $65.00 to $57.00 in a research report report published on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on BSY. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th. JPMorgan Chase & Co. began coverage on Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bentley Systems presently has an average rating of “Moderate Buy” and an average target price of $57.29.

Bentley Systems Price Performance

BSY stock opened at $45.86 on Wednesday. The company has a market capitalization of $13.33 billion, a P/E ratio of 41.32, a price-to-earnings-growth ratio of 4.04 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems has a 52-week low of $43.82 and a 52-week high of $57.19. The business has a 50-day simple moving average of $48.14 and a two-hundred day simple moving average of $48.91.

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 business had revenue of $335.17 million during the quarter, compared to the consensus estimate of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. Research analysts expect that Bentley Systems will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.52%. Bentley Systems’s dividend payout ratio is currently 21.62%.

Insiders Place Their Bets

In related news, Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total value of $3,246,971.91. Following the sale, the director now owns 16,705,028 shares of the company’s stock, valued at approximately $779,623,656.76. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the completion of the sale, the director now directly owns 12,148,235 shares in the company, valued at $618,588,126.20. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,573 shares of company stock valued at $10,712,472 in the last 90 days. 21.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bentley Systems

Hedge funds have recently modified their holdings of the stock. Clear Harbor Asset Management LLC grew its stake in Bentley Systems by 1.5% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock valued at $779,000 after buying an additional 220 shares in the last quarter. Magnolia Capital Advisors LLC grew its stake in Bentley Systems by 5.4% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company’s stock valued at $242,000 after buying an additional 249 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in Bentley Systems by 57.1% in the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after buying an additional 276 shares in the last quarter. Cetera Investment Advisers grew its stake in Bentley Systems by 1.1% in the 2nd quarter. Cetera Investment Advisers now owns 31,449 shares of the company’s stock valued at $1,552,000 after buying an additional 352 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Bentley Systems by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock valued at $468,000 after buying an additional 378 shares in the last quarter. 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.