Bentley Systems (NASDAQ:BSY) Sets New 12-Month High - Still a Buy?

Key Points

• Bentley Systems' stock reached a new 52-week high at $58.92, with a current trading price of $58.62.
• Wall Street analysts have mixed ratings on Bentley Systems, with seven analysts giving a buy rating and a consensus price target of $53.20.
• The company recently announced a quarterly dividend of $0.07 per share, which translates to a 0.48% dividend yield for investors.

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as $58.92 and last traded at $58.62, with a volume of 75492 shares traded. The stock had previously closed at $58.59.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Rosenblatt Securities cut their price target on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Royal Bank Of Canada increased their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Robert W. Baird set a $64.00 price target on shares of Bentley Systems and gave the stock an "outperform" rating in a research note on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Finally, KeyCorp increased their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Bentley Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.70.

Bentley Systems Price Performance

The firm has a market capitalization of $16.92 billion, a price-to-earnings ratio of 73.39, a price-to-earnings-growth ratio of 4.77 and a beta of 1.09. The company's fifty day moving average price is $52.89 and its 200 day moving average price is $47.17. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.49 and a current ratio of 0.49.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share 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 net margin of 18.46% and a return on equity of 29.18%. Bentley Systems's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. Equities research analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current 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 given a $0.07 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 annualized dividend and a yield of 0.5%. Bentley Systems's dividend payout ratio (DPR) is currently 35.44%.

Insider Activity

In related news, Director Raymond B. Bentley sold 122,114 shares of Bentley Systems stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $50.70, for a total value of $6,191,179.80. Following the sale, the director directly owned 15,347,424 shares in the company, valued at $778,114,396.80. This trade represents a 0.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction dated Monday, July 14th. The stock was 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 in the company, valued at $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,202,232 shares of company stock valued at $61,437,713. 20.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSY. City Holding Co. bought a new stake in shares of Bentley Systems in the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. raised its holdings in shares of Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock valued at $26,000 after acquiring an additional 627 shares during the period. Twin Tree Management LP grew its position in Bentley Systems by 361.9% during the 1st quarter. Twin Tree Management LP now owns 739 shares of the company's stock worth $29,000 after purchasing an additional 579 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock worth $30,000 after buying an additional 717 shares during the period. Finally, Fifth Third Bancorp lifted its stake in Bentley Systems by 106.6% in the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company's stock worth $33,000 after acquiring an additional 435 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

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.