Bentley Systems, Incorporated (NASDAQ:BSY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $57.29.

Several equities research analysts have commented on BSY shares. JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target on the stock. Piper Sandler cut their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th.

Insider Activity

In other news, Director Keith A. Bentley sold 69,573 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the sale, the director now owns 16,705,028 shares in the company, valued at $779,623,656.76. The trade was a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the completion of the transaction, the director now directly owns 12,048,235 shares of the company’s stock, valued at $589,761,103.25. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 169,573 shares of company stock worth $8,166,472. Corporate insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after buying an additional 508 shares during the period. Principal Financial Group Inc. boosted its position in Bentley Systems by 3.9% during the second quarter. Principal Financial Group Inc. now owns 169,741 shares of the company’s stock valued at $8,378,000 after purchasing an additional 6,428 shares during the last quarter. CIBC Asset Management Inc grew its stake in Bentley Systems by 25.4% in the second quarter. CIBC Asset Management Inc now owns 8,825 shares of the company’s stock valued at $436,000 after purchasing an additional 1,787 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Bentley Systems in the 2nd quarter worth about $43,000. Finally, Andra AP fonden purchased a new stake in shares of Bentley Systems during the 2nd quarter worth about $54,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Down 1.1 %

NASDAQ:BSY opened at $45.36 on Tuesday. The firm has a market capitalization of $13.19 billion, a P/E ratio of 40.86, a P/E/G ratio of 4.04 and a beta of 1.04. The business has a 50 day simple moving average of $48.06 and a 200 day simple moving average of $48.86. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems has a 12-month low of $43.82 and a 12-month high of $57.19.

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

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s payout ratio is currently 21.62%.

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.