Bentley Systems, Incorporated (NASDAQ:BSY) Declares Quarterly Dividend of $0.06

Bentley Systems, Incorporated (NASDAQ:BSY) declared a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Shareholders of record on Tuesday, December 3rd will be paid a dividend of 0.06 per share on Thursday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Tuesday, December 3rd.

Bentley Systems has raised its dividend payment by an average of 88.2% annually over the last three years. Bentley Systems has a payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bentley Systems to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 23.8%.

Bentley Systems Stock Performance

Shares of BSY stock traded up $1.11 on Monday, hitting $49.62. 1,648,447 shares of the stock were exchanged, compared to its average volume of 1,211,865. The firm’s 50 day moving average is $49.30 and its two-hundred day moving average is $49.96. The firm has a market capitalization of $14.43 billion, a PE ratio of 43.70, a P/E/G ratio of 4.14 and a beta of 1.04. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems has a one year low of $43.82 and a one year high of $57.19.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $335.17 million for the quarter, compared to analysts’ expectations of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 EPS. Sell-side analysts expect that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BSY. Piper Sandler increased their price objective on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. 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. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Insider Buying and Selling

In related news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the sale, the director now directly owns 16,598,656 shares in the company, valued at $820,471,566.08. The trade was a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction on Monday, October 28th. The shares were sold at an average price of $48.95, for a total value of $2,447,500.00. Following the transaction, the director now owns 12,048,235 shares of the company’s stock, valued at $589,761,103.25. The trade was a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 326,032 shares of company stock worth $16,168,176 in the last ninety days. 21.12% of the stock is owned by insiders.

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.