Bentley Systems, Incorporated (NASDAQ:BSY) Receives $52.00 Average Price Target from Analysts

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have received a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $52.00.

Several brokerages recently issued reports on BSY. UBS Group lifted their target price on Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Oppenheimer lifted their price objective on shares of Bentley Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. KeyCorp upped their target price on shares of Bentley Systems from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Robert W. Baird reduced their price target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th.

Insider Buying and Selling

In related news, CRO Brock Ballard sold 12,363 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the completion of the sale, the executive now directly owns 68,064 shares in the company, valued at $3,068,325.12. This trade represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bentley Systems

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Bentley Systems by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock valued at $708,114,000 after purchasing an additional 898,115 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Bentley Systems by 1.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company’s stock valued at $636,027,000 after buying an additional 160,496 shares during the last quarter. Swedbank AB grew its stake in shares of Bentley Systems by 36.5% during the fourth quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock valued at $327,242,000 after buying an additional 1,873,029 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Bentley Systems by 0.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company’s stock worth $262,209,000 after buying an additional 24,019 shares during the period. Finally, Impax Asset Management Group plc lifted its stake in shares of Bentley Systems by 41.9% during the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock worth $115,719,000 after acquiring an additional 736,369 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Performance

BSY opened at $47.97 on Monday. The company has a 50 day simple moving average of $42.76 and a two-hundred day simple moving average of $45.50. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $14.00 billion, a P/E ratio of 43.22, a PEG ratio of 3.52 and a beta of 1.05. Bentley Systems has a 1-year low of $36.51 and a 1-year high of $57.19.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. The company had revenue of $370.54 million during the quarter, compared to the consensus estimate of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. Bentley Systems’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. Equities analysts forecast that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were issued a $0.07 dividend. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.58%. Bentley Systems’s dividend payout ratio (DPR) is presently 35.44%.

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.