Bentley Systems, Incorporated (NASDAQ:BSY) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $57.29.

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. Finally, Piper Sandler reduced their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th.

Insider Buying and Selling

In other news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $49.44, for a total value of $2,472,000.00. Following the completion of the sale, the director now owns 12,098,235 shares of the company’s stock, valued at approximately $598,136,738.40. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Bentley sold 69,573 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the transaction, the director now directly owns 16,705,028 shares in the company, valued at $779,623,656.76. The trade was a 0.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 169,573 shares of company stock worth $8,166,472. 21.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Bentley Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Bentley Systems by 3.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock valued at $778,832,000 after acquiring an additional 586,458 shares during the last quarter. Swedbank AB increased its stake in Bentley Systems by 24.2% during the third quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock valued at $260,874,000 after purchasing an additional 1,000,000 shares during the last quarter. Impax Asset Management Group plc bought a new stake in Bentley Systems during the third quarter valued at $88,771,000. Handelsbanken Fonder AB raised its holdings in shares of Bentley Systems by 41.8% during the third quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock worth $67,222,000 after purchasing an additional 390,000 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Bentley Systems by 7.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company’s stock worth $60,839,000 after buying an additional 85,565 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Trading Down 1.1 %

Shares of BSY opened at $45.36 on Tuesday. Bentley Systems has a twelve month low of $43.82 and a twelve month high of $57.19. The firm has a market capitalization of $13.19 billion, a P/E ratio of 40.86, a price-to-earnings-growth ratio of 4.04 and a beta of 1.04. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The stock’s fifty day simple moving average is $48.06 and its 200 day simple moving average is $48.86.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. On average, equities research analysts forecast that Bentley Systems will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.53%. Bentley Systems’s dividend payout ratio is presently 21.62%.

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.