Piper Sandler Issues Positive Forecast for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY - Free Report) had its price objective hoisted by Piper Sandler from $63.00 to $65.00 in a research report released on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Rosenblatt Securities reiterated a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Monday, September 16th. Finally, The Goldman Sachs Group reduced their target price on shares of Bentley Systems from $57.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $59.86.

Bentley Systems Stock Down 4.9 %

Shares of BSY traded down $2.51 during trading on Friday, reaching $48.58. The company's stock had a trading volume of 1,122,695 shares, compared to its average volume of 1,212,321. Bentley Systems has a twelve month low of $43.82 and a twelve month 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 company has a market cap of $14.12 billion, a price-to-earnings ratio of 42.61, a P/E/G ratio of 4.10 and a beta of 1.04. The company has a fifty day moving average of $49.54 and a two-hundred day moving average of $50.44.

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

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Tuesday, September 17th. Bentley Systems's dividend payout ratio (DPR) is presently 21.05%.

Insider Buying and Selling

In other Bentley Systems 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 transaction, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the transaction, the director now owns 12,298,230 shares of the company's stock, valued at approximately $617,371,146. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock valued at $16,168,176 over the last ninety days. Insiders own 21.12% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BSY. Allspring Global Investments Holdings LLC lifted its holdings in shares of Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company's stock worth $26,000 after acquiring an additional 508 shares during the period. GAMMA Investing LLC lifted its position 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 buying an additional 273 shares during the last quarter. Blue Trust Inc. boosted 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 buying an additional 685 shares in the last quarter. Central Pacific Bank Trust Division grew 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 valued at $39,000 after acquiring an additional 276 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its holdings in shares of Bentley Systems by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company's stock worth $41,000 after acquiring an additional 358 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

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.