Bentley Systems, Incorporated (NASDAQ:BSY) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Bentley Systems has received an average rating of “Moderate Buy” from ten brokerages, with a 1-year price target of $56.60.
• The company reported a quarterly earnings per share (EPS) of $0.32, exceeding the consensus estimate and showing a year-over-year revenue increase of 10.2%.
• Bentley Systems also announced a dividend of $0.07 per share, representing a yield of 0.5% with a payout ratio of 35.44%.

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) has earned an average rating of "Moderate Buy" from the ten brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $56.60.

A number of research analysts have issued reports on BSY shares. UBS Group upped their price objective on Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Robert W. Baird set a $64.00 price target on Bentley Systems and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Oppenheimer increased their price target on Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Piper Sandler increased their price target on Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen downgraded Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, July 16th.

Bentley Systems Trading Down 1.0%

Shares of Bentley Systems stock opened at $52.94 on Friday. The stock has a fifty day simple moving average of $55.38 and a 200 day simple moving average of $48.93. Bentley Systems has a 12-month low of $36.51 and a 12-month high of $59.25. The company has a market capitalization of $15.46 billion, a P/E ratio of 67.01, a price-to-earnings-growth ratio of 4.31 and a beta of 1.09. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The business had revenue of $364.11 million during the quarter, compared to the consensus estimate of $363.51 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. Bentley Systems's revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. Bentley Systems's dividend payout ratio (DPR) is 35.44%.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 150,000 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the sale, the director owned 3,859,327 shares of the company's stock, valued at approximately $214,347,021.58. This represents a 3.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Raymond B. Bentley sold 122,114 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $50.70, for a total value of $6,191,179.80. Following the sale, the director directly owned 15,347,424 shares in the company, valued at $778,114,396.80. This trade represents a 0.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,189,869 shares of company stock valued at $60,880,388. Corporate insiders own 20.56% of the company's stock.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in shares of Bentley Systems by 207.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company's stock valued at $165,259,000 after purchasing an additional 2,066,725 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Bentley Systems by 8,187,760.9% during the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after purchasing an additional 1,883,185 shares during the last quarter. Norges Bank bought a new position in shares of Bentley Systems during the 2nd quarter valued at about $56,452,000. Vanguard Group Inc. increased its position in shares of Bentley Systems by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company's stock valued at $708,114,000 after purchasing an additional 898,115 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Bentley Systems by 915.4% during the 2nd quarter. Marshall Wace LLP now owns 553,489 shares of the company's stock valued at $29,872,000 after purchasing an additional 498,979 shares during the last quarter. 44.16% of the stock is currently 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.

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