Brokerages Set Bentley Systems, Incorporated (NASDAQ:BSY) Price Target at $58.43

Bentley Systems, Incorporated (NASDAQ:BSY) has been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $58.43.

Several research analysts recently issued reports on BSY shares. JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. Finally, Piper Sandler increased their price target on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 8th.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 34,987 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $48.37, for a total value of $1,692,321.19. Following the sale, the director now directly owns 12,213,248 shares in the company, valued at $590,754,805.76. This represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 234,987 shares of company stock worth $11,667,821. 21.12% of the stock is owned by company insiders.

Institutional Trading of Bentley Systems

Several large investors have recently modified their holdings of BSY. Tidal Investments LLC boosted its position in Bentley Systems by 21.8% during the third quarter. Tidal Investments LLC now owns 7,169 shares of the company’s stock worth $364,000 after acquiring an additional 1,284 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Bentley Systems by 5.1% during the third quarter. Sanctuary Advisors LLC now owns 77,380 shares of the company’s stock worth $3,754,000 after acquiring an additional 3,732 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in Bentley Systems during the third quarter worth approximately $110,000. Toronto Dominion Bank boosted its position in Bentley Systems by 30.9% during the third quarter. Toronto Dominion Bank now owns 20,188 shares of the company’s stock worth $1,026,000 after acquiring an additional 4,770 shares during the last quarter. Finally, MML Investors Services LLC boosted its position in Bentley Systems by 2.8% during the third quarter. MML Investors Services LLC now owns 26,991 shares of the company’s stock worth $1,371,000 after acquiring an additional 741 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Stock Performance

NASDAQ BSY opened at $48.54 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems has a 1 year low of $43.82 and a 1 year high of $57.19. The company has a market capitalization of $14.11 billion, a PE ratio of 43.73, a P/E/G ratio of 4.04 and a beta of 1.03. The company has a fifty day moving average of $48.98 and a two-hundred day moving average of $49.33.

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

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a yield of 0.49%. Bentley Systems’s payout ratio is currently 21.62%.

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.