Brokerages Set Bentley Systems, Incorporated (NASDAQ:BSY) Price Target at $56.60

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%.

Shares of Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) have received an average rating of "Moderate Buy" from the ten analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $56.60.

BSY has been the subject of several research reports. UBS Group lifted their price objective on shares of Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Robert W. Baird set a $64.00 target price on shares of Bentley Systems and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Oppenheimer boosted their target price on shares of Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. KeyCorp boosted their target price on shares of Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Piper Sandler boosted their target price on shares of Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th.

Bentley Systems Stock Up 0.4%

BSY traded up $0.21 during trading on Friday, hitting $52.95. The stock had a trading volume of 949,417 shares, compared to its average volume of 1,421,489. The company has a market capitalization of $15.47 billion, a PE ratio of 67.03, a PEG ratio of 4.26 and a beta of 1.09. Bentley Systems has a twelve month low of $36.51 and a twelve month high of $59.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a 50 day simple moving average of $55.11 and a two-hundred day simple moving average of $49.14.

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

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, September 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. Bentley Systems's payout ratio is currently 35.44%.

Insider Activity at Bentley Systems

In related news, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the transaction, the insider directly owned 647,609 shares in the company, valued at $36,887,808.64. The trade was a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith A. Bentley sold 150,000 shares of the company's 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 completion of the transaction, the director owned 3,859,327 shares of the company's stock, valued at approximately $214,347,021.58. This trade represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,983 shares of company stock worth $16,756,067 over the last three months. Company insiders own 20.56% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BSY. Cetera Investment Advisers raised its position in shares of Bentley Systems by 4.8% in the fourth quarter. Cetera Investment Advisers now owns 35,400 shares of the company's stock worth $1,653,000 after acquiring an additional 1,609 shares during the period. Janus Henderson Group PLC raised its position in shares of Bentley Systems by 16.8% in the fourth quarter. Janus Henderson Group PLC now owns 209,917 shares of the company's stock worth $9,803,000 after acquiring an additional 30,123 shares during the period. Nissay Asset Management Corp Japan ADV raised its position in shares of Bentley Systems by 8.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 68,158 shares of the company's stock worth $3,243,000 after acquiring an additional 5,586 shares during the period. Quantinno Capital Management LP increased its stake in shares of Bentley Systems by 7.2% during the fourth quarter. Quantinno Capital Management LP now owns 5,261 shares of the company's stock worth $246,000 after purchasing an additional 354 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Bentley Systems during the fourth quarter worth about $545,000. Institutional investors and hedge funds 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.