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

Bentley Systems, Incorporated (NASDAQ:BSY) declared a quarterly dividend on Friday, September 6th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Tuesday, September 17th.

Bentley Systems has raised its dividend payment by an average of 88.2% per year over the last three years. Bentley Systems has a payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NASDAQ:BSY opened at $48.29 on Friday. Bentley Systems has a 12-month low of $43.82 and a 12-month high of $57.19. The firm has a market cap of $13.93 billion, a price-to-earnings ratio of 45.13, a price-to-earnings-growth ratio of 4.30 and a beta of 1.03. The company’s 50-day moving average is $49.13 and its two-hundred day moving average is $50.69. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS 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 analysts’ expectations of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS. Research analysts expect that Bentley Systems will post 0.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $63.00 price target on shares of Bentley Systems in a research 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 Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research 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 for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.57.

Insider Buying and Selling

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

About Bentley Systems

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.