Bentley Systems, Incorporated (NASDAQ:BSY) Receives $59.50 Average Price Target from Analysts

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $59.50.

A number of research analysts have recently weighed in on BSY shares. Royal Bank of Canada reiterated an "outperform" rating and set a $61.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. The Goldman Sachs Group lowered their target price on Bentley Systems from $57.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Rosenblatt Securities reissued a "buy" rating and issued a $62.00 price target on shares of Bentley Systems in a research report on Friday, November 8th. Finally, Piper Sandler boosted their price objective on shares of Bentley Systems from $63.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, November 8th.

Bentley Systems Trading Up 0.8 %

Shares of NASDAQ BSY traded up $0.39 during mid-day trading on Monday, hitting $46.98. 1,174,366 shares of the company traded hands, compared to its average volume of 1,213,126. The business has a 50 day moving average of $49.41 and a two-hundred day moving average of $50.14. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of 42.32, a PEG ratio of 3.89 and a beta of 1.04. 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.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. On average, sell-side analysts anticipate that Bentley Systems will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Tuesday, September 17th. Bentley Systems's payout ratio is presently 21.62%.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 50,000 shares of the firm's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $50.92, for a total value of $2,546,000.00. Following the sale, the director now directly owns 12,148,235 shares of the company's stock, valued at approximately $618,588,126.20. This trade represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of the sale, the director now directly owns 16,598,656 shares of the company's stock, valued at $820,471,566.08. This represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 326,032 shares of company stock valued at $16,168,176 over the last three months. 21.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bentley Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSY. Allspring Global Investments Holdings LLC raised its stake in shares of Bentley Systems by 4,618.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company's stock valued at $26,000 after purchasing an additional 508 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company's stock worth $28,000 after acquiring an additional 273 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Bentley Systems during the 3rd quarter valued at about $30,000. Blue Trust Inc. increased its stake in Bentley Systems by 68,500.0% in the second quarter. Blue Trust Inc. now owns 686 shares of the company's stock valued at $36,000 after acquiring an additional 685 shares during the period. Finally, Central Pacific Bank Trust Division raised its position in Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company's stock worth $39,000 after purchasing an additional 276 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

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.