UBS Group Boosts Bentley Systems (NASDAQ:BSY) Price Target to $53.00

Bentley Systems (NASDAQ:BSY) had its price target increased by UBS Group from $48.00 to $53.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

BSY has been the topic of a number of other research reports. Oppenheimer boosted their target price on Bentley Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Mizuho lowered their target price on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. KeyCorp increased their price target on shares of Bentley Systems from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Piper Sandler lowered their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.00.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $46.53 on Thursday. The firm’s fifty day simple moving average is $42.20 and its 200-day simple moving average is $45.56. Bentley Systems has a 12 month low of $36.51 and a 12 month high of $57.19. The stock has a market capitalization of $14.10 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 3.52 and a beta of 1.05. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

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

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a dividend of $0.07 per share. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.60%. Bentley Systems’s payout ratio is 35.44%.

Insider Activity at Bentley Systems

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the completion of the transaction, the executive now directly owns 68,064 shares in the company, valued at approximately $3,068,325.12. This trade represents a 15.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 20.56% of the stock is currently owned by company insiders.

Institutional Trading of Bentley Systems

Several institutional investors and hedge funds have recently modified their holdings of the business. Intech Investment Management LLC raised its position in shares of Bentley Systems by 3.6% during the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock worth $340,000 after purchasing an additional 254 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Bentley Systems by 3.7% in the first quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company’s stock valued at $333,000 after acquiring an additional 301 shares in the last quarter. Prentiss Smith & Co. Inc. boosted its stake in shares of Bentley Systems by 0.5% during the first quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company’s stock valued at $2,524,000 after acquiring an additional 315 shares during the last quarter. Venturi Wealth Management LLC increased its position in Bentley Systems by 3.5% during the 1st quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company’s stock worth $371,000 after purchasing an additional 315 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Bentley Systems by 3.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock valued at $469,000 after purchasing an additional 317 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

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.