Piper Sandler Issues Positive Forecast for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY) had its target price increased by Piper Sandler from $63.00 to $65.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently weighed in on BSY. The Goldman Sachs Group decreased their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Monday, September 16th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.50.

Bentley Systems Stock Down 4.9 %

NASDAQ BSY traded down $2.51 on Friday, reaching $48.58. The stock had a trading volume of 1,122,696 shares, compared to its average volume of 1,212,321. The company has a market capitalization of $14.12 billion, a price-to-earnings ratio of 42.61, a P/E/G ratio of 4.10 and a beta of 1.04. The business has a 50 day moving average price of $49.48 and a 200 day moving average price of $50.41. Bentley Systems has a 1 year low of $43.82 and a 1 year high of $57.19. 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 released its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping 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 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 prior year, the company posted $0.20 EPS. On average, analysts forecast that Bentley Systems will post 0.9 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 annualized dividend and a yield of 0.49%. Bentley Systems’s dividend payout ratio (DPR) is 21.05%.

Insider Transactions at Bentley Systems

In other news, Director Barry J. Bentley sold 34,987 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $48.37, for a total value of $1,692,321.19. Following the completion of the transaction, the director now directly owns 12,213,248 shares of the company’s stock, valued at approximately $590,754,805.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Barry J. Bentley sold 34,987 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the sale, the director now directly owns 12,213,248 shares in the company, valued at $590,754,805.76. 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 stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the sale, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 326,032 shares of company stock valued at $16,168,176. Corporate insiders own 21.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Clear Harbor Asset Management LLC boosted its position in Bentley Systems by 1.5% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock valued at $779,000 after buying an additional 220 shares during the last quarter. Advisor OS LLC boosted its position in shares of Bentley Systems by 0.7% in the 2nd quarter. Advisor OS LLC now owns 30,983 shares of the company’s stock worth $1,529,000 after purchasing an additional 226 shares during the last quarter. Magnolia Capital Advisors LLC boosted its position in shares of Bentley Systems by 5.4% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company’s stock worth $242,000 after purchasing an additional 249 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares during the last quarter. Finally, WR Wealth Planners LLC boosted its position in shares of Bentley Systems by 4.5% in the 2nd quarter. WR Wealth Planners LLC now owns 6,435 shares of the company’s stock worth $318,000 after purchasing an additional 275 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

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.