Robert W. Baird Lowers Bentley Systems (NASDAQ:BSY) Price Target to $59.00

Bentley Systems (NASDAQ:BSY - Free Report) had its price target decreased by Robert W. Baird from $60.00 to $59.00 in a research report released on Thursday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on BSY. Rosenblatt Securities reaffirmed a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. Oppenheimer downgraded Bentley Systems from an "outperform" rating to a "market perform" rating in a research note on Thursday. JPMorgan Chase & Co. started coverage on Bentley Systems in a report on Monday, December 9th. They issued a "neutral" rating and a $52.00 target price for the company. Finally, Piper Sandler lowered their price target on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Bentley Systems presently has an average rating of "Moderate Buy" and a consensus target price of $56.14.

Bentley Systems Stock Down 2.4 %

Shares of NASDAQ BSY traded down $1.07 during trading on Thursday, reaching $42.83. The company had a trading volume of 1,824,785 shares, compared to its average volume of 1,273,796. Bentley Systems has a 12-month low of $42.46 and a 12-month 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. The business's 50-day moving average is $46.46 and its 200 day moving average is $48.28. The stock has a market cap of $12.49 billion, a PE ratio of 38.59, a P/E/G ratio of 3.52 and a beta of 1.03.

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Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, March 19th. This is a boost from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio is 38.36%.

Insiders Place Their Bets

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

Institutional Trading of Bentley Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new position in shares of Bentley Systems during the 3rd quarter valued at approximately $30,000. Private Trust Co. NA boosted 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 worth $47,000 after purchasing an additional 378 shares during the period. Tobam purchased a new stake in shares of Bentley Systems in the fourth quarter worth $55,000. Atala Financial Inc bought a new stake in shares of Bentley Systems during the 4th quarter valued at $55,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Bentley Systems during the 4th quarter valued at $75,000. Hedge funds and other institutional investors 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.