Analysts Set Bentley Systems, Incorporated (NASDAQ:BSY) Target Price at $59.50

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have been given an average rating of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $59.50.

Several research analysts have recently weighed in on BSY shares. The Goldman Sachs Group decreased their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Piper Sandler upped 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. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction that occurred on 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 sale, the director now owns 12,298,230 shares in the company, valued at approximately $617,371,146. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction 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 sale, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock worth $16,168,176 over the last three months. Company insiders own 21.12% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in Bentley Systems during the third quarter valued at $59,400,000. Vanguard Group Inc. boosted its position in shares of Bentley Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after purchasing an additional 134,516 shares in the last quarter. Montanaro Asset Management Ltd grew its stake in shares of Bentley Systems by 8.8% in the 3rd quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock worth $16,839,000 after buying an additional 26,741 shares during the last quarter. Cetera Advisors LLC bought a new position in Bentley Systems during the 1st quarter valued at approximately $608,000. Finally, Clearline Capital LP purchased a new position in Bentley Systems during the second quarter valued at $6,999,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Stock Up 1.5 %

Bentley Systems stock opened at $48.51 on Monday. Bentley Systems has a 1-year low of $43.82 and a 1-year high of $57.19. The firm has a market capitalization of $14.10 billion, a price-to-earnings ratio of 43.70, a P/E/G ratio of 3.99 and a beta of 1.04. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a 50 day simple moving average of $49.30 and a 200 day simple moving average of $50.02.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The business 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%. Bentley Systems’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. On average, analysts predict that Bentley Systems will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 annualized dividend and a yield of 0.49%. Bentley Systems’s payout ratio is 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.