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

Bentley Systems, Incorporated (NASDAQ:BSY) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Investors of record on Tuesday, December 3rd will be given a dividend of 0.06 per share on Thursday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Tuesday, December 3rd.

Bentley Systems has raised its dividend payment by an average of 88.2% annually over the last three years. Bentley Systems has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bentley Systems to earn $1.01 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 23.8%.

Bentley Systems Stock Up 0.7 %

NASDAQ BSY opened at $49.50 on Friday. The firm has a market cap of $14.39 billion, a PE ratio of 44.59, a price-to-earnings-growth ratio of 4.23 and a beta of 1.04. Bentley Systems has a one year low of $43.82 and a one year high of $57.19. The stock’s 50 day simple moving average is $49.23 and its 200 day simple moving average is $49.79. 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 (NASDAQ:BSY) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. Bentley Systems’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS. As a group, sell-side analysts forecast that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BSY shares. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased 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. Finally, Piper Sandler increased their price objective on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Insider Activity

In other news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 16,598,656 shares in the company, valued at $820,471,566.08. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the completion of the transaction, the director now owns 12,298,230 shares of the company’s stock, valued at $617,371,146. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock worth $16,168,176 in the last quarter. Corporate insiders own 21.12% of the company’s stock.

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.