Bentley Systems, Incorporated (NASDAQ:BSY) Receives $59.57 Average PT from Analysts

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $59.57.

Several analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group decreased their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Monday, September 16th. Finally, Piper Sandler restated an “overweight” rating and issued a $63.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th.

Insider Buying and Selling at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the transaction, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of the sale, the director now owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the transaction, the director now directly owns 12,298,230 shares in the company, valued at $617,371,146. The disclosure for this sale can be found here. Insiders own 21.12% of the company’s stock.

Institutional Trading of Bentley Systems

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after purchasing an additional 508 shares during the last quarter. GAMMA Investing LLC boosted its position in Bentley Systems by 90.1% in the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after buying an additional 273 shares during the last quarter. Blue Trust Inc. boosted its position in Bentley Systems by 68,500.0% in the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after buying an additional 685 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in Bentley Systems by 57.1% in the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after buying an additional 276 shares during the period. Finally, Tortoise Investment Management LLC raised its position in Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after buying an additional 358 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $49.33 on Friday. Bentley Systems has a 52 week low of $43.82 and a 52 week high of $57.19. The company has a market capitalization of $14.23 billion, a PE ratio of 46.10, a price-to-earnings-growth ratio of 4.19 and a beta of 1.03. The stock’s fifty day moving average is $49.36 and its two-hundred day moving average is $50.61. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The firm had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. During the same period in the prior year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, analysts expect that Bentley Systems will post 0.9 earnings per share for the current year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a $0.06 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. Bentley Systems’s dividend payout ratio is presently 22.43%.

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.