Bentley Systems, Incorporated (NASDAQ:BSY) Increases Dividend to $0.07 Per Share

Bentley Systems, Incorporated (NASDAQ:BSY) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Wednesday, March 19th will be paid a dividend of 0.07 per share on Thursday, March 27th. This represents a $0.28 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, March 19th. This is a 16.7% increase from Bentley Systems’s previous quarterly dividend of $0.06.

Bentley Systems has increased its dividend payment by an average of 26.0% per year over the last three years. Bentley Systems has a dividend payout ratio of 21.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Bentley Systems stock opened at $41.44 on Monday. The company’s 50-day moving average price is $45.37 and its 200-day moving average price is $47.69. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a market cap of $12.08 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 3.52 and a beta of 1.04. Bentley Systems has a twelve month low of $39.98 and a twelve month high of $57.19.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BSY. Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. began coverage on Bentley Systems in a research report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. Robert W. Baird dropped their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and reduced their target price for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Finally, Piper Sandler lowered their target price on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and an average target price of $56.14.

Insiders Place Their Bets

In other news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the sale, the director now directly owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.12% of the stock is owned by company insiders.

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.