Analysts Set Bentley Systems, Incorporated (NASDAQ:BSY) PT at $59.57

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $59.57.

A number of equities research analysts recently weighed in on BSY shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group lowered their target price on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Monday, September 16th.

Insider Activity

In other news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the sale, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the sale, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.20, for a total value of $2,510,000.00. Following the completion of the transaction, the director now directly owns 12,298,230 shares of the company’s stock, valued at approximately $617,371,146. The disclosure for this sale can be found here. Company insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Several large investors have recently modified their holdings of BSY. Allspring Global Investments Holdings LLC raised its position 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 worth $26,000 after buying an additional 508 shares during the last quarter. GAMMA Investing LLC raised its position in Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after buying an additional 273 shares during the last quarter. Blue Trust Inc. raised its position in Bentley Systems by 68,500.0% in the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after buying an additional 685 shares during the last quarter. Tortoise Investment Management LLC raised 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 buying an additional 358 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Bentley Systems in the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $49.78 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $14.36 billion, a PE ratio of 46.52, a P/E/G ratio of 4.19 and a beta of 1.03. Bentley Systems has a twelve month low of $43.82 and a twelve month high of $57.19. The company has a 50-day moving average price of $49.31 and a two-hundred day moving average price of $50.62.

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

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is currently 22.43%.

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.