Brokerages Set Bentley Systems, Incorporated (NASDAQ:BSY) Price Target at $61.29

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $61.29.

Several analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $63.00 price objective (up from $60.00) on shares of Bentley Systems in a report on Wednesday, May 8th. Mizuho raised their price target on Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Rosenblatt Securities reissued a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a research note on Tuesday, April 30th. Finally, William Blair assumed coverage on shares of Bentley Systems in a research report on Thursday, March 28th. They set an “outperform” rating on the stock.

Insiders Place Their Bets

In other news, Director Keith A. Bentley sold 118,949 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total value of $6,543,384.49. Following the sale, the director now directly owns 17,031,803 shares of the company’s stock, valued at $936,919,483.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Keith A. Bentley sold 118,949 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total value of $6,543,384.49. Following the completion of the sale, the director now directly owns 17,031,803 shares of the company’s stock, valued at $936,919,483.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith A. Bentley sold 59,420 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $55.01, for a total transaction of $3,268,694.20. Following the transaction, the director now directly owns 16,972,383 shares in the company, valued at approximately $933,650,788.83. The disclosure for this sale can be found here. Insiders sold a total of 195,390 shares of company stock valued at $10,748,234 in the last quarter. Insiders own 21.12% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

Institutional investors have recently added to or reduced their stakes in the company. UBS Group AG lifted its position in shares of Bentley Systems by 258.2% in the 3rd quarter. UBS Group AG now owns 157,448 shares of the company’s stock worth $7,898,000 after acquiring an additional 113,491 shares during the period. PNC Financial Services Group Inc. lifted its position in Bentley Systems by 46.9% in the third quarter. PNC Financial Services Group Inc. now owns 2,257 shares of the company’s stock worth $113,000 after purchasing an additional 721 shares during the period. Kestra Advisory Services LLC increased its holdings in Bentley Systems by 4.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 24,480 shares of the company’s stock valued at $1,228,000 after buying an additional 965 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Bentley Systems in the 3rd quarter valued at $1,726,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Bentley Systems by 43.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock worth $54,656,000 after acquiring an additional 327,577 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Trading Down 0.3 %

NASDAQ:BSY opened at $49.68 on Friday. The stock has a market cap of $14.33 billion, a PE ratio of 46.43, a price-to-earnings-growth ratio of 4.44 and a beta of 1.04. Bentley Systems has a fifty-two week low of $44.76 and a fifty-two week high of $57.19. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.57 and a quick ratio of 0.57. The stock’s 50-day moving average is $52.59 and its two-hundred day moving average is $51.21.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. The firm had revenue of $337.76 million for the quarter, compared to the consensus estimate of $335.00 million. As a group, equities research analysts forecast that Bentley Systems will post 0.85 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, June 4th were paid a $0.06 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. Bentley Systems’s 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.