Bentley Systems, Incorporated (NASDAQ:BSY) Receives $56.64 Consensus PT from Analysts

Bentley Systems, Incorporated (NASDAQ:BSY) has been given a consensus recommendation of “Hold” by the twelve research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $56.6364.

Several brokerages recently commented on BSY. UBS Group upped their price target on shares of Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. KeyCorp increased their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Wall Street Zen downgraded shares of Bentley Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 16th. The Goldman Sachs Group increased their price objective on shares of Bentley Systems from $42.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday, August 7th. Finally, Rosenblatt Securities downgraded shares of Bentley Systems from a “buy” rating to a “neutral” rating and increased their price objective for the company from $53.00 to $58.00 in a research note on Thursday, August 7th.

Bentley Systems Stock Down 2.7%

BSY opened at $49.33 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. Bentley Systems has a fifty-two week low of $36.51 and a fifty-two week high of $59.25. The firm’s fifty day moving average is $53.45 and its 200 day moving average is $50.38. The stock has a market cap of $14.41 billion, a price-to-earnings ratio of 62.44, a price-to-earnings-growth ratio of 3.98 and a beta of 1.07.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The business had revenue of $364.11 million for the quarter, compared to analysts’ expectations of $363.51 million. During the same quarter in the previous year, the company earned $0.31 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Bentley Systems’s dividend payout ratio is presently 35.44%.

Insider Activity

In other Bentley Systems news, insider David R. Shaman sold 19,348 shares of the firm’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $56.96, for a total value of $1,102,062.08. Following the completion of the transaction, the insider owned 647,609 shares of the company’s stock, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 20.56% of the company’s stock.

Institutional Trading of Bentley Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSY. Vanguard Group Inc. grew its position in shares of Bentley Systems by 5.3% in the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock valued at $708,114,000 after purchasing an additional 898,115 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Bentley Systems by 1.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company’s stock worth $636,027,000 after purchasing an additional 160,496 shares during the period. Swedbank AB raised its stake in Bentley Systems by 1.6% during the first quarter. Swedbank AB now owns 7,119,208 shares of the company’s stock worth $280,070,000 after purchasing an additional 111,884 shares during the period. Geode Capital Management LLC raised its stake in Bentley Systems by 5.0% during the second quarter. Geode Capital Management LLC now owns 3,230,547 shares of the company’s stock worth $173,877,000 after purchasing an additional 155,078 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Bentley Systems by 207.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock valued at $165,259,000 after acquiring an additional 2,066,725 shares during the period. Institutional investors and hedge funds own 44.16% 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.