Bentley Systems (NASDAQ:BSY) Stock Rating Reaffirmed by Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a research note published on Monday, Benzinga reports. They currently have a $62.00 target price on the stock.

Several other brokerages have also recently issued reports on BSY. Piper Sandler reaffirmed an overweight rating and issued a $63.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on Bentley Systems from $57.00 to $50.00 and set a neutral rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $61.00 price objective on shares of Bentley Systems 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. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $59.57.

Bentley Systems Stock Performance

BSY stock opened at $50.79 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. Bentley Systems has a 1 year low of $43.82 and a 1 year high of $57.19. The company has a market cap of $14.65 billion, a P/E ratio of 47.47, a price-to-earnings-growth ratio of 4.08 and a beta of 1.03. The stock’s fifty day moving average price is $49.11 and its 200-day moving average price is $50.54.

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

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Tuesday, September 17th. Bentley Systems’s dividend payout ratio is currently 22.43%.

Insider Activity

In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 16,598,656 shares in the company, valued at $820,471,566.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 21.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Forsta AP Fonden lifted its holdings in Bentley Systems by 45.0% in the 1st quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $3,316,000 after purchasing an additional 19,700 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in Bentley Systems during the first quarter worth about $935,000. Vanguard Group Inc. boosted its position in Bentley Systems by 0.6% during the first quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after acquiring an additional 134,516 shares during the last quarter. Bridgewater Associates LP grew its stake in Bentley Systems by 10.5% during the 4th quarter. Bridgewater Associates LP now owns 325,786 shares of the company’s stock valued at $17,000,000 after acquiring an additional 30,982 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new stake in Bentley Systems in the 1st quarter valued at about $608,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

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.