Bentley Systems, Incorporated Plans Quarterly Dividend of $0.07 (NASDAQ:BSY)

Bentley Systems, Incorporated (NASDAQ:BSY) declared a quarterly dividend on Thursday, May 22nd, RTT News reports. Stockholders of record on Tuesday, June 3rd will be paid a dividend of 0.07 per share on Thursday, June 12th. This represents a $0.28 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Tuesday, June 3rd.

Bentley Systems has increased its dividend by an average of 26.0% per year over the last three years and has raised its dividend every year for the last 3 years. Bentley Systems has a dividend payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bentley Systems to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 27.7%.

Bentley Systems Trading Down 0.4%

Shares of BSY opened at $47.78 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems has a 12-month low of $36.51 and a 12-month high of $52.42. The firm has a market capitalization of $13.94 billion, a PE ratio of 43.05, a price-to-earnings-growth ratio of 3.52 and a beta of 1.05. The stock’s fifty day simple moving average is $43.99 and its 200-day simple moving average is $45.43.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The business had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts predict that Bentley Systems will post 0.88 earnings per share for the current year.

Insider Transactions at Bentley Systems

In related news, CRO Brock Ballard sold 12,363 shares of Bentley Systems stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the sale, the executive now owns 68,064 shares of the company’s stock, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bentley Systems

A hedge fund recently raised its stake in Bentley Systems stock. Geneos Wealth Management Inc. raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 1,529.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 668 shares of the company’s stock after purchasing an additional 627 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Bentley Systems were worth $26,000 at the end of the most recent reporting period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Mizuho cut their target price on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. KeyCorp increased their target price on Bentley Systems from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Robert W. Baird cut their target price on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and cut their target price for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Finally, UBS Group increased their target price on Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.00.

About Bentley Systems

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.