Bentley Systems’ (BSY) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $62.00 target price on the stock.

Several other research analysts also recently weighed in on the company. Piper Sandler reaffirmed an overweight rating and set a $63.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. Royal Bank of Canada restated an outperform rating and issued a $61.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group decreased their price objective on Bentley Systems from $57.00 to $50.00 and set a neutral rating on the stock in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Bentley Systems currently has a consensus rating of Moderate Buy and a consensus price target of $59.57.

Bentley Systems Trading Down 0.3 %

Shares of BSY opened at $49.97 on Monday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36. The company’s fifty day simple moving average is $49.11 and its 200-day simple moving average is $50.54. Bentley Systems has a twelve month low of $43.82 and a twelve month high of $57.19. The company has a market cap of $14.41 billion, a P/E ratio of 46.70, a P/E/G ratio of 4.08 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. The business had revenue of $330.34 million during the quarter, compared to analyst estimates of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 earnings per share. As a group, analysts expect that Bentley Systems will post 0.9 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. Bentley Systems’s payout ratio is currently 22.43%.

Insiders Place Their Bets

In other news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of the transaction, the director now directly owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new position in Bentley Systems during the 2nd quarter valued at $3,976,000. Cetera Investment Advisers boosted its stake in Bentley Systems by 1.1% during the second quarter. Cetera Investment Advisers now owns 31,449 shares of the company’s stock valued at $1,552,000 after buying an additional 352 shares in the last quarter. Ecofi Investissements SA acquired a new position in Bentley Systems during the second quarter worth about $4,227,000. Magnolia Capital Advisors LLC raised its position in Bentley Systems by 5.4% in the second quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company’s stock worth $242,000 after acquiring an additional 249 shares in the last quarter. Finally, Creative Planning raised its position in Bentley Systems by 67.9% in the second quarter. Creative Planning now owns 1,091,058 shares of the company’s stock worth $53,855,000 after acquiring an additional 441,316 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

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.