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

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $53.85 and last traded at $53.80, with a volume of 1173379 shares traded. The stock had previously closed at $52.64.

Wall Street Analyst Weigh In

BSY has been the topic of a number of research analyst reports. Royal Bank Of Canada lifted their target price on Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. UBS Group lifted their target price on Bentley Systems from $48.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Oppenheimer lifted their target price on Bentley Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. reduced their target price on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Finally, Rosenblatt Securities reduced their target price on Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. One equities research 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. According to data from MarketBeat.com, Bentley Systems currently has an average rating of "Moderate Buy" and an average price target of $52.00.

Bentley Systems Price 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 stock has a market cap of $15.72 billion, a PE ratio of 68.20, a P/E/G ratio of 4.42 and a beta of 1.07. The company has a fifty day moving average of $47.55 and a 200-day moving average of $45.61.

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, beating the consensus estimate of $0.30 by $0.05. The firm had revenue of $370.54 million for the quarter, compared to the consensus estimate of $366.76 million. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. Sell-side analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were issued a $0.07 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 annualized dividend and a dividend yield of 0.52%. Bentley Systems's dividend payout ratio is presently 35.44%.

Insider Buying and Selling

In related news, CRO Brock Ballard sold 12,363 shares of the business's stock in a transaction on 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 transaction, the executive now directly owns 68,064 shares of the company's stock, valued at $3,068,325.12. The trade was a 15.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Raymond B. Bentley sold 122,114 shares of the business's stock in a transaction on 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 transaction, the director now directly owns 15,347,424 shares of the company's stock, valued at $778,114,396.80. The trade was a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,012,363 shares of company stock valued at $50,872,826 in the last three months. 20.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BSY. City Holding Co. acquired a new position in shares of Bentley Systems during the 1st quarter worth about $26,000. Geneos Wealth Management Inc. lifted its holdings in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock valued at $26,000 after purchasing an additional 627 shares during the last quarter. Twin Tree Management LP lifted its holdings in shares of Bentley Systems by 361.9% in the 1st quarter. Twin Tree Management LP now owns 739 shares of the company's stock valued at $29,000 after purchasing an additional 579 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Bentley Systems by 1,707.1% in the 1st quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after purchasing an additional 717 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Bentley Systems by 106.6% in the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company's stock valued at $33,000 after purchasing an additional 435 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

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.

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