Brokerages Set Bentley Systems, Incorporated (NASDAQ:BSY) Target Price at $59.57

Bentley Systems, Incorporated (NASDAQ:BSY) has earned an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $59.57.

Several brokerages have weighed in on BSY. The Goldman Sachs Group lowered their price target on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of the transaction, the director now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $49.44, for a total value of $2,472,000.00. Following the completion of the sale, the director now directly owns 12,098,235 shares in the company, valued at $598,136,738.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction that occurred on 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 $820,471,566.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,032 shares of company stock valued at $13,720,676. 21.12% of the stock is owned by company insiders.

Institutional Trading of Bentley Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Bentley Systems by 0.6% in the first 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. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Bentley Systems by 3.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock valued at $778,832,000 after buying an additional 586,458 shares in the last quarter. Swedbank AB increased its position in shares of Bentley Systems by 24.2% in the third quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock valued at $260,874,000 after buying an additional 1,000,000 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Bentley Systems by 41.8% in the third quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock valued at $67,222,000 after buying an additional 390,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Bentley Systems by 7.5% in the second quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company’s stock valued at $60,839,000 after buying an additional 85,565 shares in the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Price Performance

BSY opened at $49.15 on Thursday. The business’s 50-day moving average is $49.75 and its two-hundred day moving average is $50.47. Bentley Systems has a 1 year low of $43.82 and a 1 year high of $57.19. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $14.18 billion, a PE ratio of 45.93, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $325.20 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. 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 issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is 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.