Piper Sandler Cuts Bentley Systems (NASDAQ:BSY) Price Target to $57.00

Bentley Systems (NASDAQ:BSY) had its target price trimmed by Piper Sandler from $65.00 to $57.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

BSY has been the subject of a number of other reports. JPMorgan Chase & Co. initiated coverage on Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.29.

Bentley Systems Stock Down 1.9 %

NASDAQ BSY opened at $45.86 on Wednesday. The business has a fifty day moving average price of $48.14 and a two-hundred day moving average price of $48.91. 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 fifty-two week low of $43.82 and a fifty-two week high of $57.19. The stock has a market capitalization of $13.33 billion, a PE ratio of 41.32, a PEG ratio of 4.04 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The firm 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 company’s quarterly revenue was up 9.3% on a year-over-year basis. Equities analysts expect that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.52%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is currently 21.62%.

Insider Buying and Selling

In related news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the completion of the transaction, the director now directly owns 12,148,235 shares of the company’s stock, valued at $618,588,126.20. This trade represents a 0.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith A. Bentley sold 69,573 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total value of $3,246,971.91. Following the sale, the director now owns 16,705,028 shares of the company’s stock, valued at approximately $779,623,656.76. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,573 shares of company stock valued at $10,712,472 in the last three months. Insiders own 21.12% of the company’s stock.

Institutional Trading of Bentley Systems

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in Bentley Systems during the 3rd quarter worth about $59,400,000. Principal Financial Group Inc. grew its holdings in Bentley Systems by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock worth $10,396,000 after acquiring an additional 34,871 shares during the period. Needham Investment Management LLC acquired a new stake in Bentley Systems during the 3rd quarter worth about $2,134,000. Mirabella Financial Services LLP grew its holdings in Bentley Systems by 1,155.0% during the 3rd quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock worth $5,018,000 after acquiring an additional 92,768 shares during the period. Finally, 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 valued at $16,839,000 after buying an additional 26,741 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

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.