Bentley Systems (NASDAQ:BSY) Sets New 12-Month High - Here's What Happened

Shares of Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $58.19 and last traded at $58.05, with a volume of 147092 shares. The stock had previously closed at $57.81.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BSY. Mizuho cut their price objective on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Rosenblatt Securities dropped their price target on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Oppenheimer increased their price target on shares of Bentley Systems from $50.00 to $59.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Wall Street Zen cut shares of Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Finally, UBS Group upped their price objective on shares of Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.20.

Bentley Systems Stock Performance

The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13. The company's 50 day moving average is $52.04 and its 200-day moving average is $46.84. The company has a market capitalization of $17.03 billion, a P/E ratio of 73.86, a price-to-earnings-growth ratio of 4.76 and a beta of 1.09.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings results 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 net margin of 18.46% and a return on equity of 29.18%. The company had revenue of $370.54 million during the quarter, compared to analyst estimates of $366.76 million. During the same period last year, the business earned $0.31 EPS. Bentley Systems's quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems's dividend payout ratio (DPR) is 35.44%.

Insider Activity

In other news, insider David R. Shaman sold 19,348 shares of the firm's stock in a transaction dated 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 sale, the insider owned 647,609 shares of the company's stock, valued at $36,887,808.64. This trade represents a 2.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raymond B. Bentley sold 122,114 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $50.70, for a total transaction of $6,191,179.80. Following the sale, the director directly owned 15,347,424 shares in the company, valued at approximately $778,114,396.80. The trade was a 0.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,201,832 shares of company stock valued at $61,414,013. Company insiders own 20.56% of the company's stock.

Hedge Funds Weigh In On Bentley Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Investments LP raised its stake in Bentley Systems by 42.3% during the 4th quarter. Two Sigma Investments LP now owns 42,700 shares of the company's stock worth $1,994,000 after acquiring an additional 12,689 shares during the period. Teacher Retirement System of Texas bought a new stake in Bentley Systems during the 1st quarter worth approximately $920,000. Bright Rock Capital Management LLC bought a new stake in Bentley Systems during the 1st quarter worth approximately $1,967,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bentley Systems by 99.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock valued at $56,000 after buying an additional 706 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Bentley Systems by 8,187,760.9% during the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after buying an additional 1,883,185 shares during the last quarter. Hedge funds and other 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.