Bentley Systems (NASDAQ:BSY) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Bentley Systems (NASDAQ:BSY - Free Report) in a research note released on Monday morning, Marketbeat reports. The firm issued a neutral rating and a $52.00 price target on the stock.

A number of other analysts also recently weighed in on BSY. Rosenblatt Securities reissued a "buy" rating and issued a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. Piper Sandler increased their target price 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.43.

Bentley Systems Stock Performance

Shares of Bentley Systems stock traded down $1.12 during trading on Monday, reaching $48.62. The company's stock had a trading volume of 1,145,809 shares, compared to its average volume of 1,195,183. The business's fifty day moving average price is $49.17 and its 200-day moving average price is $49.54. Bentley Systems has a one year low of $43.82 and a one year high of $57.19. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 43.80, a price-to-earnings-growth ratio of 4.25 and a beta of 1.03. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting analysts' consensus estimates of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The company had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. During the same period in the previous year, the company earned $0.18 earnings per share. The company's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts predict that Bentley Systems will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. Bentley Systems's dividend payout ratio (DPR) is currently 21.62%.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.95, for a total value of $2,447,500.00. Following the sale, the director now directly owns 12,048,235 shares in the company, valued at $589,761,103.25. This represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 234,987 shares of company stock valued at $11,667,821 over the last quarter. 21.12% of the stock is owned by company insiders.

Institutional Trading of Bentley Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in BSY. International Assets Investment Management LLC acquired a new stake in shares of Bentley Systems in the third quarter valued at approximately $59,400,000. Needham Investment Management LLC bought a new stake in shares of Bentley Systems during the third quarter worth $2,134,000. Mirabella Financial Services LLP lifted its stake in shares of Bentley Systems by 1,155.0% during the third quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company's stock valued at $5,018,000 after acquiring an additional 92,768 shares during the period. Montanaro Asset Management Ltd lifted its stake in shares of Bentley Systems by 8.8% during the third quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company's stock valued at $16,839,000 after acquiring an additional 26,741 shares during the period. Finally, Cetera Advisors LLC bought a new position in Bentley Systems in the first quarter valued at about $608,000. 44.16% of the stock is currently 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.