Bentley Systems’ (BSY) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a report released on Wednesday morning, Benzinga reports. They currently have a $62.00 price target on the stock.

BSY has been the subject of a number of other research reports. Piper Sandler reiterated an overweight rating and issued a $63.00 price target (up previously from $60.00) on shares of Bentley Systems in a research report on Wednesday, May 8th. Mizuho lifted their target price on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of Moderate Buy and an average price target of $59.57.

Bentley Systems Stock Down 1.8 %

NASDAQ BSY opened at $48.38 on Wednesday. The company has a market capitalization of $13.96 billion, a P/E ratio of 45.21, a PEG ratio of 4.21 and a beta of 1.03. Bentley Systems has a 12 month low of $43.82 and a 12 month high of $57.19. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.57 and a quick ratio of 0.57. The company’s 50 day simple moving average is $49.34 and its 200 day simple moving average is $50.89.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.08. The company had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. Equities research analysts expect that Bentley Systems will post 0.85 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, June 4th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Tuesday, June 4th. Bentley Systems’s dividend payout ratio is currently 22.43%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in shares of Bentley Systems during the 4th quarter valued at about $6,382,000. Forsta AP Fonden raised its position in Bentley Systems by 45.0% during the first quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $3,316,000 after acquiring an additional 19,700 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in Bentley Systems in the first quarter valued at approximately $935,000. Vanguard Group Inc. grew its position in Bentley Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after acquiring an additional 134,516 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of Bentley Systems by 5.0% during the 4th quarter. Handelsbanken Fonder AB now owns 793,900 shares of the company’s stock worth $41,426,000 after purchasing an additional 38,120 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.