Bentley Systems, Incorporated (NASDAQ:BSY) Receives $59.57 Consensus Target Price from Brokerages

Bentley Systems, Incorporated (NASDAQ:BSY) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $59.57.

BSY has been the topic of a number of research analyst reports. Royal Bank of Canada restated 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 cut their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler reissued an “overweight” rating and set a $63.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Monday, September 16th.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.20, for a total value of $2,510,000.00. Following the completion of the transaction, the director now owns 12,298,230 shares of the company’s stock, valued at $617,371,146. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the transaction, the director now directly owns 12,298,230 shares of the company’s stock, valued at $617,371,146. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry J. Bentley sold 34,987 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the completion of the transaction, the director now owns 12,213,248 shares of the company’s stock, valued at approximately $590,754,805.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 326,032 shares of company stock valued at $16,168,176. Company insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

A number of hedge funds have recently bought and sold shares of the business. Forsta AP Fonden lifted its position in shares of Bentley Systems by 45.0% during the 1st quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $3,316,000 after buying an additional 19,700 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Bentley Systems in the first quarter valued at about $935,000. Vanguard Group Inc. grew its position in shares of Bentley Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock valued at $1,162,002,000 after purchasing an additional 134,516 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Bentley Systems during the third quarter worth about $59,400,000. Finally, Cetera Advisors LLC purchased a new position in Bentley Systems in the 1st quarter valued at about $608,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Up 0.2 %

NASDAQ:BSY opened at $49.61 on Thursday. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 43.52, a PEG ratio of 4.09 and a beta of 1.03. Bentley Systems has a 52 week low of $43.82 and a 52 week high of $57.19. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. The firm has a 50 day moving average of $49.71 and a 200 day moving average of $50.47.

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

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. Bentley Systems’s dividend payout ratio is presently 21.05%.

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.