Bentley Systems (NASDAQ:BSY) Stock Price Expected to Rise, Piper Sandler Analyst Says

Bentley Systems (NASDAQ:BSY) had its price objective increased by Piper Sandler from $63.00 to $65.00 in a research note published on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other research firms also recently issued reports on BSY. 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 note on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Bentley Systems Trading Down 4.9 %

Bentley Systems stock traded down $2.51 during mid-day trading on Friday, hitting $48.58. 1,122,696 shares of the company’s stock were exchanged, compared to its average volume of 1,212,321. The firm has a market capitalization of $14.12 billion, a P/E ratio of 42.61, a PEG ratio of 4.10 and a beta of 1.04. Bentley Systems has a fifty-two week low of $43.82 and a fifty-two 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 company’s 50 day simple moving average is $49.48 and its 200-day simple moving average is $50.41.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $325.20 million. During the same quarter last year, the business posted $0.20 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts anticipate that Bentley Systems will post 0.9 earnings per share for the current year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio is currently 21.05%.

Insider Activity at Bentley Systems

In related news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the completion of the transaction, the director now owns 12,048,235 shares in the company, valued at approximately $589,761,103.25. 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 is accessible through this hyperlink. In related news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the transaction, the director now owns 16,598,656 shares in the company, 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 is accessible through this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $48.95, for a total value of $2,447,500.00. Following the transaction, the director now owns 12,048,235 shares of the company’s stock, valued at $589,761,103.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 326,032 shares of company stock valued at $16,168,176. 21.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Bentley Systems

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Bentley Systems by 0.6% during 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 during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Bentley Systems by 3.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock worth $778,832,000 after acquiring an additional 586,458 shares during the period. Swedbank AB boosted its holdings in shares of Bentley Systems by 24.2% during the third quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock worth $260,874,000 after acquiring an additional 1,000,000 shares during the period. Impax Asset Management Group plc bought a new stake in shares of Bentley Systems during the third quarter worth approximately $88,771,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Bentley Systems by 41.8% during the third quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock worth $67,222,000 after acquiring an additional 390,000 shares during the period. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Company Profile

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.