Bentley Systems (NASDAQ:BSY) Price Target Lowered to $57.00 at Piper Sandler

Bentley Systems (NASDAQ:BSY) had its price target decreased by Piper Sandler from $65.00 to $57.00 in a report published on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms also recently commented on BSY. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.29.

Bentley Systems Stock Performance

Shares of BSY stock opened at $46.74 on Wednesday. Bentley Systems has a 12-month low of $43.82 and a 12-month high of $57.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $13.59 billion, a price-to-earnings ratio of 42.11, a price-to-earnings-growth ratio of 4.04 and a beta of 1.04. The business has a 50 day simple moving average of $48.22 and a 200 day simple moving average of $48.96.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The company had revenue of $335.17 million during the quarter, compared to analysts’ expectations of $340.36 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Bentley Systems will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is presently 21.62%.

Insider Buying and Selling

In other Bentley Systems news, Director Keith A. Bentley sold 69,573 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the sale, the director now owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of the firm’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 transaction, the director now owns 12,148,235 shares of the company’s stock, valued at approximately $618,588,126.20. The trade was 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 worth $10,712,472. Corporate insiders own 21.12% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds have recently made changes to their positions in the company. Clear Harbor Asset Management LLC raised its stake in Bentley Systems by 1.5% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock valued at $779,000 after purchasing an additional 220 shares during the period. Magnolia Capital Advisors LLC grew its holdings in shares of Bentley Systems by 5.4% during the second quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company’s stock valued at $242,000 after buying an additional 249 shares in the last quarter. Central Pacific Bank Trust Division raised its position in Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after buying an additional 276 shares during the period. Cetera Investment Advisers lifted its stake in Bentley Systems by 1.1% in the 2nd quarter. Cetera Investment Advisers now owns 31,449 shares of the company’s stock worth $1,552,000 after acquiring an additional 352 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Bentley Systems by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock worth $468,000 after acquiring an additional 378 shares during the period. Hedge funds and other institutional investors 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.