Bentley Systems (NASDAQ:BSY) Research Coverage Started at UBS Group

UBS Group started coverage on shares of Bentley Systems (NASDAQ:BSY) in a research note issued to investors on Monday, Marketbeat reports. The firm issued a neutral rating and a $48.00 price objective on the stock.

Several other research analysts also recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Tuesday, February 25th. Robert W. Baird reduced their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Piper Sandler dropped their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Oppenheimer lowered shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and dropped their price target for the company from $51.00 to $42.00 in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Hold” and an average price target of $55.13.

Bentley Systems Price Performance

Shares of Bentley Systems stock opened at $41.13 on Monday. The company has a 50-day simple moving average of $44.12 and a two-hundred day simple moving average of $46.99. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 37.05, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. 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 has a twelve month low of $38.66 and a twelve month high of $57.19.

Bentley Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 19th. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s payout ratio is presently 38.36%.

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the sale, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. This represents a 0.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Bentley Systems by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock valued at $49,161,000 after acquiring an additional 15,372 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Bentley Systems in the 4th quarter valued at $809,000. Principal Financial Group Inc. increased its position in shares of Bentley Systems by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after purchasing an additional 34,871 shares during the last quarter. Bar Harbor Wealth Management purchased a new stake in shares of Bentley Systems during the 4th quarter valued at $8,413,000. Finally, Needham Investment Management LLC bought a new stake in shares of Bentley Systems during the 3rd quarter worth $2,134,000. 44.16% of the stock is owned by hedge funds and other 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.