Bentley Systems, Incorporated (NASDAQ:BSY) Expected to Post Q1 2023 Earnings of $0.19 Per Share

Bentley Systems, Incorporated (NASDAQ:BSYGet Rating) – Stock analysts at Oppenheimer issued their Q1 2023 EPS estimates for Bentley Systems in a research note issued on Tuesday, January 24th. Oppenheimer analyst K. Owen forecasts that the company will earn $0.19 per share for the quarter. Oppenheimer has a “Outperform” rating and a $48.00 price objective on the stock. The consensus estimate for Bentley Systems’ current full-year earnings is $0.65 per share. Oppenheimer also issued estimates for Bentley Systems’ Q2 2023 earnings at $0.15 EPS, Q3 2023 earnings at $0.17 EPS and Q4 2023 earnings at $0.17 EPS.

A number of other analysts have also weighed in on the stock. The Goldman Sachs Group upgraded shares of Bentley Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $38.00 to $44.00 in a research note on Wednesday, November 9th. Royal Bank of Canada dropped their price target on shares of Bentley Systems from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Rosenblatt Securities increased their price target on shares of Bentley Systems from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, November 9th. Finally, Mizuho increased their price target on shares of Bentley Systems from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.33.

Bentley Systems Stock Down 1.5 %

BSY stock opened at $38.32 on Wednesday. The company’s 50 day moving average price is $37.94 and its 200 day moving average price is $36.56. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.57 and a current ratio of 0.57. Bentley Systems has a fifty-two week low of $26.32 and a fifty-two week high of $45.70. The firm has a market capitalization of $10.61 billion, a price-to-earnings ratio of 65.20, a PEG ratio of 6.68 and a beta of 1.23.

Bentley Systems (NASDAQ:BSYGet Rating) last released its earnings results on Tuesday, November 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Bentley Systems had a net margin of 17.37% and a return on equity of 49.27%. The firm had revenue of $268.33 million for the quarter, compared to analyst estimates of $268.93 million.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 8th. Stockholders of record on Wednesday, November 30th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.31%. The ex-dividend date was Tuesday, November 29th. Bentley Systems’s payout ratio is currently 20.34%.

Insider Activity

In related news, CEO Gregory S. Bentley sold 87,531 shares of the stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $36.07, for a total transaction of $3,157,243.17. Following the completion of the sale, the chief executive officer now directly owns 8,592,671 shares of the company’s stock, valued at $309,937,642.97. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Gregory S. Bentley sold 87,531 shares of the stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $36.07, for a total transaction of $3,157,243.17. Following the completion of the sale, the chief executive officer now directly owns 8,592,671 shares of the company’s stock, valued at $309,937,642.97. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kirk B. Griswold sold 35,000 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $36.82, for a total value of $1,288,700.00. Following the sale, the director now directly owns 502,204 shares of the company’s stock, valued at $18,491,151.28. The disclosure for this sale can be found here. Corporate insiders own 22.53% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of BSY. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Bentley Systems by 21.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,707,419 shares of the company’s stock valued at $389,857,000 after acquiring an additional 2,068,341 shares during the period. Brown Advisory Inc. lifted its holdings in Bentley Systems by 2,555.8% in the second quarter. Brown Advisory Inc. now owns 1,170,693 shares of the company’s stock valued at $38,985,000 after acquiring an additional 1,126,613 shares during the period. Raymond James & Associates increased its position in shares of Bentley Systems by 295.8% in the third quarter. Raymond James & Associates now owns 940,500 shares of the company’s stock valued at $28,770,000 after buying an additional 702,875 shares in the last quarter. Robeco Schweiz AG purchased a new position in shares of Bentley Systems in the second quarter valued at $23,029,000. Finally, Creative Planning increased its position in shares of Bentley Systems by 5,923.7% in the second quarter. Creative Planning now owns 568,400 shares of the company’s stock valued at $18,928,000 after buying an additional 558,964 shares in the last quarter. Institutional investors and hedge funds own 36.12% of the company’s stock.

About Bentley Systems

(Get Rating)

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.

See Also

Receive News & Ratings for Bentley Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bentley Systems and related companies with MarketBeat.com's FREE daily email newsletter.