Bentley Systems (NASDAQ:BSY) Sets New 52-Week High – Should You Buy?

Bentley Systems, Incorporated (NASDAQ:BSY) reached a new 52-week high on Tuesday . The stock traded as high as $52.42 and last traded at $52.17, with a volume of 327833 shares. The stock had previously closed at $51.83.

Analyst Upgrades and Downgrades

BSY has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Bentley Systems from a “hold” rating to a “buy” rating in a research report on Sunday. JPMorgan Chase & Co. cut their price objective on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Mizuho lowered their target price on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. UBS Group raised their price target on shares of Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, KeyCorp upped their price target on Bentley Systems from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Bentley Systems Stock Performance

The stock has a market cap of $15.36 billion, a P/E ratio of 66.62, a P/E/G ratio of 4.26 and a beta of 1.07. The firm has a 50 day moving average of $46.80 and a two-hundred day moving average of $45.48. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.49 and a current ratio of 0.49.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The firm had revenue of $370.54 million during the quarter, compared to the consensus estimate of $366.76 million. During the same period in the prior year, the firm earned $0.31 EPS. The business’s revenue was up 9.7% on a year-over-year basis. On average, research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems’s dividend payout ratio is presently 35.44%.

Insiders Place Their Bets

In other news, Director Raymond B. Bentley sold 355,103 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $49.96, for a total value of $17,740,945.88. Following the sale, the director now owns 15,992,321 shares in the company, valued at approximately $798,976,357.16. The trade was a 2.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Brock Ballard sold 12,363 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction of $557,324.04. Following the completion of the sale, the executive now directly owns 68,064 shares in the company, valued at approximately $3,068,325.12. The trade was a 15.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,012,363 shares of company stock worth $50,872,826 over the last 90 days. Corporate insiders own 20.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BSY. City Holding Co. acquired a new position in shares of Bentley Systems during the first quarter worth approximately $26,000. Geneos Wealth Management Inc. boosted its position in Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares during the last quarter. Twin Tree Management LP boosted its position in Bentley Systems by 361.9% in the 1st quarter. Twin Tree Management LP now owns 739 shares of the company’s stock valued at $29,000 after buying an additional 579 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Bentley Systems by 1,707.1% in the 1st quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock valued at $30,000 after buying an additional 717 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock worth $33,000 after acquiring an additional 435 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

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.