Brokerages Set Bentley Systems, Incorporated (NASDAQ:BSY) Target Price at $59.57

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $59.57.

BSY has been the subject of several research analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Monday, September 16th. The Goldman Sachs Group dropped their price target on Bentley Systems from $57.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. Piper Sandler reiterated an "overweight" rating and issued a $63.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th.

Bentley Systems Trading Down 0.9 %

Shares of BSY traded down $0.46 during trading hours on Thursday, hitting $48.73. The company had a trading volume of 572,972 shares, compared to its average volume of 1,226,729. Bentley Systems has a 52-week low of $43.82 and a 52-week high of $57.19. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. The stock's 50 day moving average price is $49.80 and its 200 day moving average price is $50.50. The firm has a market cap of $14.06 billion, a P/E ratio of 46.08, a P/E/G ratio of 4.09 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.08. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The company had revenue of $330.34 million during the quarter, compared to analyst estimates of $325.20 million. During the same period in the prior year, the business posted $0.20 EPS. The firm's revenue was up 11.3% compared to the same quarter last year. On average, research analysts predict that Bentley Systems will post 0.9 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems's dividend payout ratio (DPR) is 22.43%.

Insider Activity at Bentley Systems

In other news, Director Raymond B. Bentley sold 91,045 shares of the firm's 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 transaction, the director now owns 16,598,656 shares of the company's stock, valued at approximately $820,471,566.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Barry J. Bentley sold 34,987 shares of Bentley Systems stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $48.37, for a total value of $1,692,321.19. Following the completion of the transaction, the director now owns 12,213,248 shares in the company, valued at $590,754,805.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction 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 transaction, the director now directly owns 16,598,656 shares in the company, valued at $820,471,566.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,032 shares of company stock worth $13,720,676. 21.12% of the stock is currently owned by company insiders.

Institutional Trading of Bentley Systems

Several institutional investors and hedge funds have recently made changes to their positions in BSY. Thrive Wealth Management LLC raised its position in Bentley Systems by 9.4% in the 1st quarter. Thrive Wealth Management LLC now owns 8,355 shares of the company's stock valued at $436,000 after purchasing an additional 721 shares during the last quarter. First Bank & Trust purchased a new stake in shares of Bentley Systems in the first quarter valued at about $328,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Bentley Systems by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 449,954 shares of the company's stock worth $23,497,000 after buying an additional 4,008 shares during the period. Norden Group LLC purchased a new position in shares of Bentley Systems during the first quarter worth about $3,134,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in Bentley Systems by 496.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 900 shares of the company's stock valued at $47,000 after acquiring an additional 749 shares during the period. 44.16% of the stock is owned by hedge funds and other 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.