Bentley Systems’ (BSY) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a research report report published on Monday morning,Benzinga reports. Rosenblatt Securities currently has a $50.00 target price on the stock.

BSY has been the subject of a number of other research reports. Bank of America assumed coverage on Bentley Systems in a research note on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective for the company. BMO Capital Markets lifted their target price on Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Zacks Research downgraded shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. UBS Group reduced their price target on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Finally, Piper Sandler upgraded shares of Bentley Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $42.00 to $45.00 in a report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.00.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $35.73 on Monday. The company has a market capitalization of $10.38 billion, a PE ratio of 39.26, a PEG ratio of 2.27 and a beta of 0.98. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock’s 50 day moving average price is $32.25 and its 200-day moving average price is $33.85. Bentley Systems has a twelve month low of $28.08 and a twelve month high of $57.25.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $410.73 million during the quarter, compared to the consensus estimate of $412.12 million. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.Bentley Systems’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. On average, equities analysts anticipate that Bentley Systems will post 1.2 EPS for the current year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 2nd. Bentley Systems’s dividend payout ratio is 30.77%.

Institutional Trading of Bentley Systems

Hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in Bentley Systems by 54,633.0% during the 4th quarter. Baillie Gifford & Co. now owns 298,295 shares of the company’s stock worth $11,384,000 after acquiring an additional 297,750 shares during the period. SummitTX Capital L.P. boosted its holdings in Bentley Systems by 74.9% in the 1st quarter. SummitTX Capital L.P. now owns 104,520 shares of the company’s stock valued at $3,671,000 after purchasing an additional 44,774 shares during the period. Comerica Bank boosted its holdings in Bentley Systems by 106.8% in the 4th quarter. Comerica Bank now owns 61,147 shares of the company’s stock valued at $2,334,000 after purchasing an additional 31,576 shares during the period. State of Michigan Retirement System purchased a new position in shares of Bentley Systems during the 4th quarter valued at $1,343,000. Finally, Danske Bank A S grew its position in shares of Bentley Systems by 74.5% during the 4th quarter. Danske Bank A S now owns 78,204 shares of the company’s stock valued at $2,985,000 after purchasing an additional 33,400 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.