Bentley Systems (NASDAQ:BSY) Price Target Lowered to $62.00 at Robert W. Baird

Bentley Systems (NASDAQ:BSY) had its price objective reduced by Robert W. Baird from $64.00 to $62.00 in a research note published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also issued reports about the company. UBS Group upped their price target on Bentley Systems from $53.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, October 8th. Piper Sandler decreased their price target on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday. Barclays started coverage on shares of Bentley Systems in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $57.00 price objective for the company. Finally, Oppenheimer increased their target price on shares of Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.73.

Bentley Systems Stock Up 0.6%

Bentley Systems stock traded up $0.28 during mid-day trading on Thursday, hitting $46.71. 3,004,547 shares of the company’s stock were exchanged, compared to its average volume of 1,694,158. Bentley Systems has a 1-year low of $36.51 and a 1-year high of $59.25. The stock has a 50 day moving average of $52.17 and a two-hundred day moving average of $51.65. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. The stock has a market cap of $13.64 billion, a P/E ratio of 55.61, a P/E/G ratio of 3.91 and a beta of 1.12.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. Bentley Systems had a return on equity of 28.76% and a net margin of 18.45%.The company had revenue of $375.55 million during the quarter, compared to the consensus estimate of $369.57 million. During the same quarter in the prior year, the company posted $0.24 EPS. The firm’s revenue was up 12.0% on a year-over-year basis. As a group, analysts anticipate that Bentley Systems will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 23rd. Bentley Systems’s payout ratio is currently 33.33%.

Institutional Trading of Bentley Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. increased its position in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares in the last quarter. Baillie Gifford & Co. bought a new stake in shares of Bentley Systems in the third quarter worth $28,000. National Pension Service bought a new position in shares of Bentley Systems in the 3rd quarter valued at about $28,000. Twin Tree Management LP boosted its holdings in shares of Bentley Systems by 361.9% in the 1st quarter. Twin Tree Management LP now owns 739 shares of the company’s stock valued at $29,000 after buying an additional 579 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock valued at $30,000 after acquiring an additional 717 shares during the last quarter. 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.