Bentley Systems, Incorporated (NASDAQ:BSY) Receives $58.43 Consensus Target Price from Analysts

Shares of Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eight analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $58.43.

A number of research firms have commented on BSY. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a report on Monday, December 9th. They issued a "neutral" rating and a $52.00 target price for the company. Piper Sandler raised their price objective on shares of Bentley Systems from $63.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $62.00 price objective on shares of Bentley Systems in a report on Friday, November 8th.

Bentley Systems Stock Performance

Shares of NASDAQ BSY traded down $0.45 during mid-day trading on Tuesday, hitting $46.42. 1,404,611 shares of the company were exchanged, compared to its average volume of 908,128. The stock has a 50 day simple moving average of $48.28 and a 200-day simple moving average of $48.97. Bentley Systems has a 1-year low of $43.82 and a 1-year high of $57.19. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a market cap of $13.49 billion, a price-to-earnings ratio of 41.82, a price-to-earnings-growth ratio of 4.04 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company had revenue of $335.17 million during the quarter, compared to analysts' expectations of $340.36 million. During the same quarter last year, the business earned $0.18 EPS. The business's revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts forecast that Bentley Systems will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems's payout ratio is currently 21.62%.

Insider Activity

In other news, Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the sale, the director now owns 16,705,028 shares of the company's stock, valued at $779,623,656.76. The trade was a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the company's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the transaction, the director now directly owns 12,148,235 shares of the company's stock, valued at approximately $618,588,126.20. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,573 shares of company stock worth $10,712,472 over the last ninety days. 21.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Bentley Systems by 20.5% in the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company's stock valued at $10,396,000 after purchasing an additional 34,871 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Bentley Systems by 21.8% in the third quarter. Tidal Investments LLC now owns 7,169 shares of the company's stock worth $364,000 after buying an additional 1,284 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Bentley Systems by 5.1% in the third quarter. Sanctuary Advisors LLC now owns 77,380 shares of the company's stock valued at $3,754,000 after buying an additional 3,732 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in shares of Bentley Systems during the 3rd quarter valued at about $110,000. Finally, Toronto Dominion Bank lifted its position in Bentley Systems by 30.9% during the 3rd quarter. Toronto Dominion Bank now owns 20,188 shares of the company's stock worth $1,026,000 after acquiring an additional 4,770 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

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.