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

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $58.43.

BSY has been the subject of a number of research reports. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 target price for the company. Piper Sandler increased their price objective on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the sale, the director now directly owns 12,298,230 shares in the company, valued at $617,371,146. This represents a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 234,987 shares of company stock valued at $11,667,821 in the last 90 days. 21.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Bentley Systems by 3.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock worth $778,832,000 after purchasing an additional 586,458 shares in the last quarter. Swedbank AB grew its stake in Bentley Systems by 24.2% in the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock worth $260,874,000 after buying an additional 1,000,000 shares in the last quarter. Impax Asset Management Group plc bought a new position in shares of Bentley Systems in the 3rd quarter worth $88,771,000. Handelsbanken Fonder AB raised its position in shares of Bentley Systems by 41.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock valued at $67,222,000 after buying an additional 390,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Bentley Systems by 7.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company’s stock worth $60,839,000 after acquiring an additional 85,565 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Up 1.2 %

Shares of NASDAQ:BSY opened at $47.74 on Friday. Bentley Systems has a 1 year low of $43.82 and a 1 year high of $57.19. The company has a market capitalization of $13.88 billion, a PE ratio of 43.01, a price-to-earnings-growth ratio of 4.04 and a beta of 1.03. The business has a fifty day moving average price of $48.89 and a two-hundred day moving average price of $49.30. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. Analysts forecast that Bentley Systems will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were paid a $0.06 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 0.50%. Bentley Systems’s dividend payout ratio is 21.62%.

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.