Bentley Systems, Incorporated (NASDAQ:BSY) Given Consensus Rating of “Moderate Buy” by Brokerages

Bentley Systems, Incorporated (NASDAQ:BSY) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $58.43.

BSY has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. Piper Sandler upped their price target on shares of Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. assumed coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company.

Bentley Systems Stock Up 1.2 %

Shares of BSY opened at $47.74 on Friday. The stock’s 50-day moving average price is $48.89 and its two-hundred day moving average price is $49.30. Bentley Systems has a 12 month low of $43.82 and a 12 month high of $57.19. The company has a market capitalization of $13.88 billion, a PE ratio of 43.01, a PEG ratio of 4.04 and a beta of 1.03. 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 (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. 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 the consensus estimate of $340.36 million. During the same period last year, the company earned $0.18 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, analysts anticipate that Bentley Systems will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is currently 21.62%.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the transaction, the director now directly owns 12,298,230 shares in the company, valued at $617,371,146. This trade represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 234,987 shares of company stock worth $11,667,821. Corporate insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after acquiring an additional 508 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Bentley Systems during the third quarter valued at about $30,000. Blue Trust Inc. lifted its position in shares of Bentley Systems by 68,500.0% during the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after purchasing an additional 685 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares during the last quarter. Finally, Tortoise Investment Management LLC grew its position in Bentley Systems by 75.4% in 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. 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.