Bentley Systems (NASDAQ:BSY) Reaches New 1-Year High - Here's What Happened

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $52.42 and last traded at $52.17, with a volume of 327833 shares changing hands. The stock had previously closed at $51.83.

Analysts Set New Price Targets

Several analysts recently issued reports on BSY shares. KeyCorp increased their target price on Bentley Systems from $54.00 to $56.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Oppenheimer upped their price target on Bentley Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Robert W. Baird reduced their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Rosenblatt Securities lowered their target price on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, Royal Bank Of Canada upped their target price on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Bentley Systems currently has an average rating of "Moderate Buy" and a consensus target price of $52.00.

Bentley Systems Stock Performance

The business's fifty day moving average is $47.36 and its two-hundred day moving average is $45.61. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $15.36 billion, a PE ratio of 66.64, a price-to-earnings-growth ratio of 4.40 and a beta of 1.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The business had revenue of $370.54 million during the quarter, compared to analyst estimates of $366.76 million. During the same quarter last year, the business earned $0.31 earnings per share. Bentley Systems's quarterly revenue was up 9.7% compared to the same quarter last year. As a group, research analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were given a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.28 annualized dividend and a yield of 0.53%. Bentley Systems's dividend payout ratio is currently 35.44%.

Insiders Place Their Bets

In related news, Director Raymond B. Bentley sold 273,094 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $50.30, for a total transaction of $13,736,628.20. Following the transaction, the director now directly owns 15,719,227 shares in the company, valued at approximately $790,677,118.10. This represents a 1.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Brock Ballard sold 12,363 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction of $557,324.04. Following the completion of the sale, the executive now directly owns 68,064 shares of the company's stock, valued at approximately $3,068,325.12. The trade was a 15.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,012,363 shares of company stock valued at $50,872,826 over the last ninety days. 20.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Intech Investment Management LLC raised its holdings in shares of Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock valued at $340,000 after acquiring an additional 254 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Bentley Systems by 3.7% in the 1st quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company's stock valued at $333,000 after purchasing an additional 301 shares in the last quarter. Prentiss Smith & Co. Inc. raised its holdings in shares of Bentley Systems by 0.5% in the 1st quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company's stock valued at $2,524,000 after purchasing an additional 315 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Bentley Systems by 3.5% in the 1st quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company's stock worth $371,000 after purchasing an additional 315 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Bentley Systems by 3.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company's stock valued at $469,000 after purchasing an additional 317 shares in the last quarter. Institutional investors 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.