Bentley Systems (NASDAQ:BSY) Sets New 12-Month High - Time to Buy?

Shares of Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $57.28 and last traded at $57.20, with a volume of 701446 shares changing hands. The stock had previously closed at $56.35.

Analyst Ratings Changes

BSY has been the topic of several recent analyst reports. Wall Street Zen cut Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday. Royal Bank Of Canada raised their price objective on Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. UBS Group raised their price objective on Bentley Systems from $48.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. dropped their price objective on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Finally, Mizuho dropped their price objective on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.20.

Bentley Systems Trading Up 0.1%

The business's fifty day moving average price is $50.99 and its 200 day moving average price is $46.45. 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 firm has a market capitalization of $16.80 billion, a PE ratio of 72.89, a P/E/G ratio of 4.68 and a beta of 1.09.

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

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Tuesday, June 3rd. Bentley Systems's dividend payout ratio (DPR) is 35.44%.

Insider Transactions at Bentley Systems

In related news, Director Raymond B. Bentley sold 355,103 shares of Bentley Systems stock in a transaction on Monday, June 16th. The stock was sold at an average price of $49.96, for a total value of $17,740,945.88. Following the transaction, the director owned 15,992,321 shares in the company, valued at approximately $798,976,357.16. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Brock Ballard sold 12,363 shares of Bentley Systems stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total value of $557,324.04. Following the completion of the transaction, the executive owned 68,064 shares in the company, valued at $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 a total of 1,201,832 shares of company stock worth $61,414,013 over the last ninety days. 20.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Bentley Systems by 5.3% in the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company's stock valued at $708,114,000 after acquiring an additional 898,115 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Bentley Systems by 1.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company's stock valued at $636,027,000 after purchasing an additional 160,496 shares during the period. Swedbank AB raised its position in Bentley Systems by 1.6% in the first quarter. Swedbank AB now owns 7,119,208 shares of the company's stock valued at $280,070,000 after purchasing an additional 111,884 shares during the period. Pictet Asset Management Holding SA raised its position in Bentley Systems by 0.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company's stock valued at $262,209,000 after purchasing an additional 24,019 shares during the period. Finally, Bessemer Group Inc. raised its position in Bentley Systems by 8,187,760.9% in the first 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 period. Institutional investors and hedge funds own 44.16% of the company's stock.

About Bentley Systems

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.