Analysts Set Bentley Systems, Incorporated (NASDAQ:BSY) Target Price at $59.50

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have received an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $59.50.

A number of equities research analysts have commented on BSY shares. Piper Sandler lifted their target price on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Friday, November 8th. The Goldman Sachs Group cut their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th.

Bentley Systems Price Performance

Shares of BSY opened at $46.69 on Monday. The company has a market capitalization of $13.57 billion, a P/E ratio of 42.06, a price-to-earnings-growth ratio of 3.89 and a beta of 1.04. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a 50 day moving average of $49.34 and a 200 day moving average of $50.07. Bentley Systems has a twelve month low of $43.82 and a twelve month high of $57.19.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company had revenue of $335.17 million during the quarter, compared to the consensus estimate of $340.36 million. During the same quarter last year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Bentley Systems will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is 21.62%.

Insider Activity at Bentley Systems

In related news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction on Monday, October 14th. The shares were sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the transaction, the director now owns 12,148,235 shares in the company, valued at approximately $618,588,126.20. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems 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 transaction, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 326,032 shares of company stock worth $16,168,176. 21.12% of the stock is owned by corporate insiders.

Institutional Trading of Bentley Systems

Several hedge funds have recently bought and sold shares of BSY. Russell Investments Group Ltd. raised its position in shares of Bentley Systems by 2.7% during the 1st quarter. Russell Investments Group Ltd. now owns 18,711 shares of the company’s stock valued at $977,000 after buying an additional 494 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Bentley Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock valued at $1,162,002,000 after buying an additional 134,516 shares in the last quarter. UniSuper Management Pty Ltd raised its position in shares of Bentley Systems by 114.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,000 shares of the company’s stock valued at $157,000 after buying an additional 1,600 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Bentley Systems by 18,074.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,996 shares of the company’s stock valued at $522,000 after buying an additional 9,941 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Bentley Systems during the 1st quarter valued at about $161,000. Hedge funds and other 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.