Analysts Set Bentley Systems, Incorporated (NASDAQ:BSY) Price Target at $56.14

Bentley Systems, Incorporated (NASDAQ:BSY) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $56.14.

A number of equities research analysts recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Piper Sandler dropped their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Oppenheimer cut Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Tuesday, February 25th.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $39.70 on Friday. The stock’s 50-day simple moving average is $44.46 and its two-hundred day simple moving average is $47.17. Bentley Systems has a twelve month low of $39.58 and a twelve month high of $57.19. The firm has a market capitalization of $11.58 billion, a P/E ratio of 35.77, a P/E/G ratio of 3.52 and a beta of 1.04. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were given a dividend of $0.07 per share. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.71%. Bentley Systems’s dividend payout ratio is presently 38.36%.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC raised its position in shares of Bentley Systems by 3.6% in the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock worth $340,000 after acquiring an additional 254 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Bentley Systems by 3.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock worth $469,000 after purchasing an additional 317 shares in the last quarter. Quantinno Capital Management LP lifted its position in Bentley Systems by 7.2% during the fourth quarter. Quantinno Capital Management LP now owns 5,261 shares of the company’s stock valued at $246,000 after buying an additional 354 shares during the period. Prudential PLC boosted its holdings in shares of Bentley Systems by 0.6% during the 4th quarter. Prudential PLC now owns 63,008 shares of the company’s stock valued at $2,942,000 after buying an additional 371 shares in the last quarter. Finally, Private Trust Co. NA grew its position in shares of Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after buying an additional 378 shares during the period. 44.16% of the stock is owned by institutional investors.

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.