Bentley Systems, Incorporated Plans Quarterly Dividend of $0.06 (NASDAQ:BSY)

Bentley Systems, Incorporated (NASDAQ:BSY) declared a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Shareholders of record on Tuesday, December 3rd will be paid a dividend of 0.06 per share on Thursday, December 12th. This represents a $0.24 annualized dividend and a yield of 0.48%. The ex-dividend date is Tuesday, December 3rd.

Bentley Systems has raised its dividend by an average of 88.2% per year over the last three years. Bentley Systems has a dividend payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 $0.24 annual dividend with an expected future payout ratio of 23.8%.

Bentley Systems Price Performance

Shares of Bentley Systems stock traded up $1.11 on Monday, hitting $49.62. 1,648,447 shares of the company traded hands, compared to its average volume of 1,211,865. The business has a 50-day simple moving average of $49.30 and a 200 day simple moving average of $49.96. Bentley Systems has a 52 week low of $43.82 and a 52 week high of $57.19. The stock has a market capitalization of $14.43 billion, a P/E ratio of 43.70, a price-to-earnings-growth ratio of 4.14 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on BSY. The Goldman Sachs Group dropped 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 restated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Piper Sandler lifted their price target on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.50.

Insider Activity

In other news, Director Raymond B. Bentley sold 91,045 shares of the firm’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 directly owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the transaction, the director now directly owns 12,298,230 shares of the company’s stock, valued at approximately $617,371,146. This trade represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 326,032 shares of company stock worth $16,168,176. 21.12% of the stock is currently owned by corporate insiders.

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.