Bentley Systems, Incorporated (NASDAQ:BSY) Receives $56.73 Average Target Price from Brokerages

Bentley Systems, Incorporated (NASDAQ:BSY) has received a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $56.7273.

Several research firms have issued reports on BSY. Barclays assumed coverage on shares of Bentley Systems in a research note on Tuesday, October 7th. They issued an “equal weight” rating and a $57.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $58.00 price objective on shares of Bentley Systems in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday, October 8th. Piper Sandler lowered their price target on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, Robert W. Baird cut their price objective on Bentley Systems from $64.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, November 6th.

Bentley Systems Stock Up 0.2%

Shares of NASDAQ BSY opened at $39.00 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a market cap of $11.39 billion, a P/E ratio of 46.43, a P/E/G ratio of 3.06 and a beta of 1.23. Bentley Systems has a 52 week low of $36.51 and a 52 week high of $59.25. The business has a 50-day simple moving average of $44.08 and a two-hundred day simple moving average of $50.46.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. The firm had revenue of $375.55 million for the quarter, compared to the consensus estimate of $369.57 million. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. Research analysts anticipate that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, December 4th. This represents a $0.28 annualized dividend and a yield of 0.7%. Bentley Systems’s payout ratio is presently 33.33%.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors have recently made changes to their positions in the stock. Capital Fund Management S.A. purchased a new position in Bentley Systems in the first quarter worth $1,769,000. Jump Financial LLC bought a new stake in Bentley Systems during the first quarter worth about $333,000. FORA Capital LLC boosted its holdings in shares of Bentley Systems by 13.2% in the 1st quarter. FORA Capital LLC now owns 15,691 shares of the company’s stock worth $617,000 after purchasing an additional 1,829 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Bentley Systems in the 1st quarter worth about $1,872,000. Finally, Magnetar Financial LLC bought a new position in shares of Bentley Systems during the 1st quarter valued at about $434,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.