Bentley Systems (NASDAQ:BSY) Downgraded by Oppenheimer to “Market Perform”

Oppenheimer lowered shares of Bentley Systems (NASDAQ:BSY) from an outperform rating to a market perform rating in a research note published on Thursday, Marketbeat Ratings reports.

Several other brokerages have also recently commented on BSY. Piper Sandler reduced their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Tuesday. Finally, JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus target price of $57.29.

Bentley Systems Stock Down 1.3 %

BSY stock opened at $44.04 on Thursday. The stock has a 50-day simple moving average of $46.54 and a two-hundred day simple moving average of $48.33. Bentley Systems has a twelve month low of $43.75 and a twelve month high of $57.19. The firm has a market capitalization of $12.80 billion, a PE ratio of 39.68, a PEG ratio of 3.52 and a beta of 1.03. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is currently 21.62%.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 21.12% of the company’s stock.

Institutional Trading of Bentley Systems

Several hedge funds have recently added to or reduced their stakes in BSY. Point72 Hong Kong Ltd purchased a new position in shares of Bentley Systems in the third quarter worth about $30,000. Private Trust Co. NA boosted its holdings in Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after acquiring an additional 378 shares during the period. Tobam bought a new position in Bentley Systems during the 4th quarter worth approximately $55,000. Atala Financial Inc purchased a new position in Bentley Systems in the 4th quarter worth approximately $55,000. Finally, Ameriflex Group Inc. bought a new stake in Bentley Systems in the fourth quarter valued at approximately $75,000. 44.16% of the stock is owned by institutional investors.

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.