Analysts Set Bentley Systems, Incorporated (NASDAQ:BSY) Price Target at $57.29

Bentley Systems, Incorporated (NASDAQ:BSY) has been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $57.29.

A number of research firms recently weighed in on BSY. Piper Sandler lowered their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. 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, JPMorgan Chase & Co. assumed coverage on Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective on the stock.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the transaction, the director now directly owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.12% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds have recently modified their holdings of BSY. Swedbank AB boosted its holdings in shares of Bentley Systems by 36.5% in the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock valued at $327,242,000 after purchasing an additional 1,873,029 shares during the last quarter. Impax Asset Management Group plc purchased a new position in Bentley Systems in the third quarter valued at about $88,771,000. Handelsbanken Fonder AB lifted its position in Bentley Systems by 41.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock worth $67,222,000 after acquiring an additional 390,000 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of Bentley Systems by 3.5% in the third quarter. TimesSquare Capital Management LLC now owns 1,161,146 shares of the company’s stock valued at $58,998,000 after purchasing an additional 39,205 shares during the period. Finally, Fiera Capital Corp grew its stake in shares of Bentley Systems by 13.2% during the fourth quarter. Fiera Capital Corp now owns 953,246 shares of the company’s stock valued at $44,517,000 after acquiring an additional 111,433 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Stock Down 1.5 %

Bentley Systems stock opened at $45.86 on Friday. The company has a market capitalization of $13.33 billion, a P/E ratio of 41.32, a PEG ratio of 3.48 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current 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 50-day simple moving average of $47.46 and a 200-day simple moving average of $48.56.

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

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were issued a $0.06 dividend. 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 (DPR) 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.