Bentley Systems (NASDAQ:BSY) Price Target Lowered to $57.00 at Piper Sandler

Bentley Systems (NASDAQ:BSY) had its price target reduced by Piper Sandler from $65.00 to $57.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.29.

Bentley Systems Trading Up 0.7 %

NASDAQ BSY opened at $46.74 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems has a 1-year low of $43.82 and a 1-year high of $57.19. The firm’s fifty day simple moving average is $48.22 and its 200-day simple moving average is $48.96. The company has a market capitalization of $13.59 billion, a PE ratio of 42.11, a price-to-earnings-growth ratio of 4.04 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The company had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. During the same period in the prior year, the firm posted $0.18 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were paid a $0.06 dividend. 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, December 3rd. Bentley Systems’s payout ratio is 21.62%.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 69,573 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the transaction, the director now owns 16,705,028 shares of the company’s stock, valued at approximately $779,623,656.76. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were 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. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 219,573 shares of company stock valued at $10,712,472. Company insiders own 21.12% of the company’s stock.

Institutional Trading of Bentley Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Bentley Systems by 4,618.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after acquiring an additional 508 shares during the period. Point72 Hong Kong Ltd bought a new position in Bentley Systems in the third quarter valued at approximately $30,000. Central Pacific Bank Trust Division grew its stake in shares of Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Bentley Systems in the 2nd quarter valued at about $43,000. Finally, Andra AP fonden bought a new stake in Bentley Systems in the second quarter valued at approximately $54,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

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.