Bentley Systems, Incorporated (NASDAQ:BSY) Raises Dividend to $0.07 Per Share

Bentley Systems, Incorporated (NASDAQ:BSY) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Wednesday, March 19th will be paid a dividend of 0.07 per share on Thursday, March 27th. This represents a $0.28 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06.

Bentley Systems has increased its dividend payment by an average of 26.0% per year over the last three years. Bentley Systems has a dividend payout ratio of 17.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Bentley Systems to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 23.8%.

Bentley Systems Trading Down 1.3 %

BSY stock traded down $0.58 during midday trading on Thursday, hitting $44.04. The stock had a trading volume of 2,379,944 shares, compared to its average volume of 1,220,764. The firm has a market cap of $12.80 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The company’s 50-day moving average price is $46.61 and its 200 day moving average price is $48.36. Bentley Systems has a 12-month low of $43.75 and a 12-month high of $57.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BSY. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Tuesday. Piper Sandler reduced their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. Robert W. Baird cut their target price on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Oppenheimer lowered shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.29.

Insider Activity

In other 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 transaction of $53,372.16. Following the transaction, the director now owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.12% of the stock is currently owned by insiders.

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.