Bentley Systems, Incorporated (NASDAQ:BSY) Receives $59.57 Average PT from Analysts

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $59.57.

A number of analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group lowered their price objective on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th.

Insiders Place Their Bets

In related news, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the sale, the director now owns 12,298,230 shares in the company, valued at $617,371,146. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the sale, the director now directly owns 12,298,230 shares in the company, valued at $617,371,146. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $4,500,354.35. Following the sale, the director now directly owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.12% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Bentley Systems by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 589,191 shares of the company’s stock worth $30,748,000 after purchasing an additional 11,923 shares in the last quarter. Norges Bank bought a new position in Bentley Systems in the 4th quarter valued at $16,424,000. UBS Group AG increased its stake in shares of Bentley Systems by 10.4% in the 4th quarter. UBS Group AG now owns 173,744 shares of the company’s stock valued at $9,066,000 after buying an additional 16,296 shares during the period. Corient Private Wealth LLC raised its position in shares of Bentley Systems by 2.7% during the fourth quarter. Corient Private Wealth LLC now owns 19,103 shares of the company’s stock worth $996,000 after acquiring an additional 509 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in shares of Bentley Systems by 133.3% during the fourth quarter. Assetmark Inc. now owns 1,666 shares of the company’s stock valued at $87,000 after acquiring an additional 952 shares during the period. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Down 0.9 %

Bentley Systems stock opened at $48.88 on Friday. The business’s 50-day simple moving average is $49.36 and its 200-day simple moving average is $50.61. Bentley Systems has a 52 week low of $43.82 and a 52 week high of $57.19. The firm has a market capitalization of $14.10 billion, a PE ratio of 45.68, a PEG ratio of 4.19 and a beta of 1.03. 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 (NASDAQ:BSY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. The company had revenue of $330.34 million during the quarter, compared to analyst estimates of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 earnings per share. Equities research analysts forecast that Bentley Systems will post 0.9 earnings per share for the current year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.49%. The ex-dividend date was Tuesday, September 17th. Bentley Systems’s dividend 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.