Bentley Systems (NASDAQ:BSY) Trading 3.1% Higher

Bentley Systems, Incorporated (NASDAQ:BSY) traded up 3.1% during mid-day trading on Wednesday . The stock traded as high as $50.59 and last traded at $50.44. 681,499 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 1,085,840 shares. The stock had previously closed at $48.90.

Analyst Ratings Changes

Several research analysts have issued reports on the company. William Blair assumed coverage on Bentley Systems in a report on Thursday, March 28th. They issued an “outperform” rating on the stock. Robert W. Baird upped their price target on Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a report on Wednesday, February 28th. Rosenblatt Securities raised shares of Bentley Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $54.00 to $60.00 in a research note on Monday, February 26th. Finally, Piper Sandler reissued an “overweight” rating and set a $60.00 target price on shares of Bentley Systems in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.44.

Bentley Systems Price Performance

The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $14.88 billion, a price-to-earnings ratio of 52.59, a P/E/G ratio of 4.98 and a beta of 1.10. The stock’s 50 day moving average price is $50.56 and its two-hundred day moving average price is $50.78.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The business had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. During the same period in the prior year, the business posted $0.13 earnings per share. Bentley Systems’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts anticipate that Bentley Systems, Incorporated will post 0.82 EPS for the current fiscal year.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were paid a $0.06 dividend. The ex-dividend date was Tuesday, March 19th. This is an increase from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.46%. Bentley Systems’s dividend payout ratio is 24.24%.

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 88,925 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total value of $4,400,009.00. Following the completion of the sale, the director now directly owns 17,164,179 shares in the company, valued at $849,283,576.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 21.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bentley Systems

A number of large investors have recently bought and sold shares of BSY. LM Advisors LLC bought a new stake in Bentley Systems during the fourth quarter valued at about $27,000. Private Trust Co. NA boosted its holdings in Bentley Systems by 87.3% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after acquiring an additional 254 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Bentley Systems by 261.5% during the first quarter. Tower Research Capital LLC TRC now owns 658 shares of the company’s stock valued at $28,000 after acquiring an additional 476 shares during the period. Fifth Third Bancorp boosted its holdings in Bentley Systems by 97.4% during the fourth quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock valued at $39,000 after acquiring an additional 371 shares during the period. Finally, Belpointe Asset Management LLC boosted its holdings in Bentley Systems by 43.6% during the first quarter. Belpointe Asset Management LLC now owns 757 shares of the company’s stock valued at $33,000 after acquiring an additional 230 shares during the period. 44.16% of the stock is currently owned by institutional investors.

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.