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

Rosenblatt Securities reiterated their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a report released on Friday,Benzinga reports. They currently have a $62.00 price objective on the stock.

Several other research analysts have also recently issued reports on BSY. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group cut their price target on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Piper Sandler raised their target price on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Bentley Systems Stock Performance

Shares of BSY traded down $2.51 during trading hours on Friday, hitting $48.58. The stock had a trading volume of 1,122,696 shares, compared to its average volume of 1,212,321. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. Bentley Systems has a 12 month low of $43.82 and a 12 month high of $57.19. The firm has a market capitalization of $14.12 billion, a PE ratio of 42.61, a PEG ratio of 4.10 and a beta of 1.04. The stock has a fifty day moving average price of $49.48 and a 200 day moving average price of $50.41.

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

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. Bentley Systems’s payout ratio is 21.05%.

Insider Buying and Selling

In related news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the sale, the director now owns 12,048,235 shares in the company, valued at approximately $589,761,103.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Raymond B. Bentley sold 91,045 shares of the business’s 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 sale, the director now owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the completion of the sale, the director now directly owns 12,048,235 shares of the company’s stock, valued at $589,761,103.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock valued at $16,168,176 over the last ninety days. Corporate insiders own 21.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Bentley Systems by 4,618.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after buying an additional 508 shares during the period. GAMMA Investing LLC increased its position in shares of Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares in the last quarter. Blue Trust Inc. increased its position in shares of Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after purchasing an additional 685 shares in the last quarter. Central Pacific Bank Trust Division increased its position in shares of Bentley Systems by 57.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its position in shares of Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after purchasing an additional 358 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

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.