Bentley Systems, Incorporated (NASDAQ:BSY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $57.29.

A number of brokerages recently issued reports on BSY. JPMorgan Chase & Co. initiated coverage on Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective for the company. Piper Sandler dropped their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Friday, November 8th.

Bentley Systems Stock Down 1.9 %

Bentley Systems stock opened at $45.86 on Tuesday. The stock has a fifty day moving average of $48.14 and a 200 day moving average of $48.90. Bentley Systems has a one year low of $43.82 and a one year high of $57.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market cap of $13.33 billion, a PE ratio of 41.32, a price-to-earnings-growth ratio of 4.04 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last announced its earnings results 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 analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. As a group, sell-side analysts predict that Bentley Systems will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 69,573 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the transaction, the director now owns 16,705,028 shares in the company, valued at $779,623,656.76. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the completion of the sale, the director now owns 12,148,235 shares in the company, valued at approximately $618,588,126.20. This trade represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,573 shares of company stock valued at $10,712,472. Corporate insiders own 21.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BSY. Allspring Global Investments Holdings LLC boosted its holdings in shares of Bentley Systems by 4,618.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after purchasing an additional 508 shares during the period. Principal Financial Group Inc. raised its stake in shares of Bentley Systems by 3.9% in the second quarter. Principal Financial Group Inc. now owns 169,741 shares of the company’s stock valued at $8,378,000 after acquiring an additional 6,428 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Bentley Systems by 25.4% in the 2nd quarter. CIBC Asset Management Inc now owns 8,825 shares of the company’s stock worth $436,000 after acquiring an additional 1,787 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Bentley Systems in the 2nd quarter worth about $43,000. Finally, Andra AP fonden purchased a new position in shares of Bentley Systems during the 2nd quarter worth about $54,000. Institutional investors own 44.16% of the company’s stock.

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.