Bentley Systems, Incorporated (NASDAQ:BSY) Receives $61.29 Average Price Target from Brokerages

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have received an average recommendation of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $61.29.

A number of analysts have issued reports on the company. Robert W. Baird raised their target price on Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $60.00 target price on shares of Bentley Systems in a research note on Tuesday, April 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 target price (up from $60.00) on shares of Bentley Systems in a research note on Wednesday, May 8th. Mizuho raised their target price on Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, William Blair started coverage on Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating for the company.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares in the company, valued at approximately $943,291,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares in the company, valued at approximately $943,291,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Bentley sold 118,949 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total value of $6,543,384.49. Following the transaction, the director now owns 17,031,803 shares of the company’s stock, valued at $936,919,483.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 284,315 shares of company stock valued at $15,148,243. 21.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bentley Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of BSY. Signaturefd LLC boosted its holdings in Bentley Systems by 134.3% during the 3rd quarter. Signaturefd LLC now owns 3,163 shares of the company’s stock valued at $159,000 after acquiring an additional 1,813 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Bentley Systems by 70.0% in the 3rd quarter. Victory Capital Management Inc. now owns 159,748 shares of the company’s stock valued at $8,013,000 after buying an additional 65,780 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Bentley Systems by 11.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 91,906 shares of the company’s stock valued at $4,610,000 after buying an additional 9,379 shares during the period. Jump Financial LLC acquired a new position in shares of Bentley Systems during the third quarter worth about $2,896,000. Finally, Atria Investments Inc grew its position in shares of Bentley Systems by 5.2% during the third quarter. Atria Investments Inc now owns 57,198 shares of the company’s stock worth $2,869,000 after buying an additional 2,839 shares in the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Price Performance

NASDAQ BSY opened at $50.24 on Monday. The business has a fifty day moving average price of $52.46 and a 200 day moving average price of $51.44. Bentley Systems has a one year low of $44.76 and a one year high of $57.19. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $14.49 billion, a P/E ratio of 46.95, a P/E/G ratio of 4.60 and a beta of 1.08.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Tuesday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. The business had revenue of $337.76 million during the quarter, compared to the consensus estimate of $335.00 million. Research analysts anticipate that Bentley Systems will post 0.85 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, June 4th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Tuesday, June 4th. Bentley Systems’s payout ratio is 22.43%.

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.