Piper Sandler Cuts Bentley Systems (NASDAQ:BSY) Price Target to $42.00

Bentley Systems (NASDAQ:BSY) had its price objective reduced by Piper Sandler from $45.00 to $42.00 in a research note released on Monday morning, Marketbeat reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently weighed in on the company. UBS Group reduced their target price on Bentley Systems from $60.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Barclays dropped their price objective on shares of Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday, January 12th. Oppenheimer cut their price objective on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. JPMorgan Chase & Co. decreased their target price on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Finally, Rosenblatt Securities dropped their price target on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Bentley Systems has an average rating of “Hold” and a consensus price target of $48.33.

Bentley Systems Stock Performance

Shares of BSY opened at $38.87 on Monday. Bentley Systems has a 1 year low of $30.97 and a 1 year high of $59.25. The company’s 50 day simple moving average is $36.65 and its 200 day simple moving average is $44.37. The company has a market capitalization of $11.33 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 2.78 and a beta of 1.18. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.56 and a current ratio of 0.56.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Thursday, February 26th. The company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Bentley Systems had a net margin of 18.50% and a return on equity of 28.82%. The firm had revenue of $391.58 million during the quarter, compared to analysts’ expectations of $381.79 million. During the same period in the previous year, the company earned $0.21 EPS. Bentley Systems’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts predict that Bentley Systems will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Tuesday, March 10th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 10th. Bentley Systems’s dividend payout ratio is 32.56%.

Institutional Investors Weigh In On Bentley Systems

Several large investors have recently made changes to their positions in BSY. William Blair Investment Management LLC acquired a new position in shares of Bentley Systems during the 3rd quarter valued at $150,903,000. Manning & Napier Advisors LLC purchased a new position in Bentley Systems in the third quarter valued at about $122,028,000. Bank of New York Mellon Corp lifted its stake in shares of Bentley Systems by 207.6% during the second quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock worth $165,259,000 after purchasing an additional 2,066,725 shares in the last quarter. Norges Bank acquired a new position in shares of Bentley Systems during the fourth quarter worth about $68,766,000. Finally, Vanguard Group Inc. boosted its position in shares of Bentley Systems by 10.7% in the third quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock worth $957,922,000 after buying an additional 1,792,591 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.