Bentley Systems (NASDAQ:BSY) Upgraded to Outperform at Oppenheimer

Oppenheimer upgraded shares of Bentley Systems (NASDAQ:BSY - Free Report) from a market perform rating to an outperform rating in a research report sent to investors on Thursday morning, MarketBeat.com reports. Oppenheimer currently has $49.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on BSY. The Goldman Sachs Group downgraded Bentley Systems from a "neutral" rating to a "sell" rating and cut their price target for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Robert W. Baird dropped their target price on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler cut their price objective on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.56.

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Bentley Systems Trading Down 1.1 %

Shares of BSY traded down $0.49 during midday trading on Thursday, hitting $42.51. The stock had a trading volume of 420,305 shares, compared to its average volume of 1,390,413. The business has a 50-day simple moving average of $42.96 and a two-hundred day simple moving average of $46.31. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems has a fifty-two week low of $36.51 and a fifty-two week high of $57.19. The firm has a market cap of $12.39 billion, a P/E ratio of 38.30, a price-to-earnings-growth ratio of 3.52 and a beta of 1.06.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio (DPR) is 38.36%.

Insiders Place Their Bets

In related news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares in the company, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.12% of the company's stock.

Hedge Funds Weigh In On Bentley Systems

Institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC lifted its position in Bentley Systems by 3.6% in the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock valued at $340,000 after acquiring an additional 254 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Bentley Systems by 3.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company's stock valued at $469,000 after acquiring an additional 317 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Bentley Systems by 7.2% in the 4th quarter. Quantinno Capital Management LP now owns 5,261 shares of the company's stock valued at $246,000 after purchasing an additional 354 shares during the period. Prudential PLC raised its stake in Bentley Systems by 0.6% in the fourth quarter. Prudential PLC now owns 63,008 shares of the company's stock valued at $2,942,000 after buying an additional 371 shares during the period. Finally, Private Trust Co. NA lifted its position in shares of Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company's stock valued at $47,000 after buying an additional 378 shares during the last quarter. 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.