Bentley Systems, Incorporated Declares Quarterly Dividend of $0.06 (NASDAQ:BSY)

Bentley Systems, Incorporated (NASDAQ:BSY) declared a quarterly dividend on Thursday, September 5th, Wall Street Journal reports. Shareholders of record on Tuesday, September 17th will be given a dividend of 0.06 per share on Thursday, September 26th. This represents a $0.24 annualized dividend and a yield of 0.50%. The ex-dividend date is Tuesday, September 17th.

Bentley Systems has increased its dividend by an average of 88.2% annually over the last three years. Bentley Systems has a payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bentley Systems to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 24.2%.

Bentley Systems Stock Down 0.7 %

NASDAQ:BSY opened at $48.29 on Friday. The company’s 50-day simple moving average is $49.13 and its 200-day simple moving average is $50.69. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. Bentley Systems has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The stock has a market capitalization of $13.93 billion, a P/E ratio of 45.13, a P/E/G ratio of 4.30 and a beta of 1.03.

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

Analyst Ratings Changes

BSY has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group dropped their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.57.

Insider Activity

In related news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the transaction, the director now owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 21.12% 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.