Robert W. Baird Cuts Bentley Systems (NASDAQ:BSY) Price Target to $62.00

Bentley Systems (NASDAQ:BSY) had its target price reduced by Robert W. Baird from $64.00 to $62.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Bentley Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday, October 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 target price on shares of Bentley Systems in a research report on Thursday. UBS Group lifted their price target on Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, Oppenheimer upped their price objective on Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.73.

Bentley Systems Stock Up 0.6%

Shares of NASDAQ BSY opened at $46.71 on Thursday. The company has a market cap of $13.64 billion, a price-to-earnings ratio of 55.61, a PEG ratio of 3.77 and a beta of 1.12. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.04. Bentley Systems has a 12 month low of $36.51 and a 12 month high of $59.25. The stock has a 50-day moving average price of $52.00 and a two-hundred day moving average price of $51.74.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $375.55 million for the quarter, compared to analyst estimates of $369.57 million. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. As a group, analysts forecast that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, September 23rd. Bentley Systems’s dividend payout ratio (DPR) is 33.33%.

Institutional Trading of Bentley Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new position in shares of Bentley Systems in the 1st quarter worth approximately $920,000. Axxcess Wealth Management LLC lifted its holdings in Bentley Systems by 3.7% in the first quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company’s stock valued at $333,000 after buying an additional 301 shares during the period. Banque Pictet & Cie SA acquired a new position in Bentley Systems in the first quarter valued at $332,000. CWM LLC boosted its position in Bentley Systems by 31.1% during the first quarter. CWM LLC now owns 38,413 shares of the company’s stock valued at $1,511,000 after acquiring an additional 9,110 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in Bentley Systems during the 1st quarter worth about $275,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

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.