Oppenheimer Reaffirms “Outperform” Rating for Bentley Systems (NASDAQ:BSY)

Oppenheimer reissued their outperform rating on shares of Bentley Systems (NASDAQ:BSYGet Rating) in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm currently has a $48.00 price target on the stock.

Several other research firms also recently commented on BSY. Rosenblatt Securities increased their target price on shares of Bentley Systems from $37.00 to $39.00 and gave the stock a buy rating in a research report on Wednesday, November 9th. Wolfe Research started coverage on shares of Bentley Systems in a research report on Tuesday, August 16th. They set an outperform rating and a $48.00 target price on the stock. The Goldman Sachs Group raised shares of Bentley Systems from a neutral rating to a buy rating and increased their target price for the stock from $38.00 to $44.00 in a research report on Wednesday, November 9th. Mizuho increased their target price on shares of Bentley Systems from $35.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, November 9th. Finally, TheStreet raised shares of Bentley Systems from a d+ rating to a c- rating in a research report on Friday, August 12th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $45.78.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $38.31 on Tuesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 3.42. Bentley Systems has a 1 year low of $26.32 and a 1 year high of $52.49. The business has a fifty day simple moving average of $34.30 and a 200 day simple moving average of $35.12. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 64.93, a P/E/G ratio of 6.65 and a beta of 1.20.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Wednesday, November 30th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Tuesday, November 29th. Bentley Systems’s dividend payout ratio is currently 20.34%.

Insider Activity

In related news, Director Barry J. Bentley sold 39,286 shares of Bentley Systems stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $37.95, for a total transaction of $1,490,903.70. Following the sale, the director now directly owns 13,344,171 shares of the company’s stock, valued at $506,411,289.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Barry J. Bentley sold 39,286 shares of Bentley Systems stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $37.95, for a total transaction of $1,490,903.70. Following the sale, the director now directly owns 13,344,171 shares of the company’s stock, valued at $506,411,289.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Barry J. Bentley sold 160,714 shares of Bentley Systems stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $38.53, for a total value of $6,192,310.42. Following the sale, the director now directly owns 13,383,457 shares in the company, valued at $515,664,598.21. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 365,790 shares of company stock valued at $13,786,454. 22.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Bentley Systems

A number of institutional investors have recently added to or reduced their stakes in the company. Seaport Global Advisors LLC lifted its stake in Bentley Systems by 11.2% during the third quarter. Seaport Global Advisors LLC now owns 11,511 shares of the company’s stock worth $352,000 after purchasing an additional 1,159 shares during the period. M&T Bank Corp lifted its stake in Bentley Systems by 11.3% during the third quarter. M&T Bank Corp now owns 65,246 shares of the company’s stock worth $1,995,000 after purchasing an additional 6,627 shares during the period. Advisors Capital Management LLC lifted its stake in Bentley Systems by 41.4% during the third quarter. Advisors Capital Management LLC now owns 73,838 shares of the company’s stock worth $2,859,000 after purchasing an additional 21,612 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Bentley Systems by 3.0% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 12,061,158 shares of the company’s stock worth $368,951,000 after purchasing an additional 353,739 shares during the period. Finally, Captrust Financial Advisors lifted its stake in Bentley Systems by 5,632.2% during the third quarter. Captrust Financial Advisors now owns 134,706 shares of the company’s stock worth $4,121,000 after purchasing an additional 132,356 shares during the period. 35.80% of the stock is owned by institutional investors and hedge funds.

About Bentley Systems

(Get Rating)

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.

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Analyst Recommendations for Bentley Systems (NASDAQ:BSY)

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