Bentley Systems (NASDAQ:BSY) Shares Gap Up - What's Next?

Key Points

• Bentley Systems (NASDAQ:BSY) shares opened significantly higher at $55.20, up from a previous close of $52.34, with a trading volume of 719,462 shares.
• Analysts have varied opinions on the stock, with price targets ranging from $58.00 to $65.00 and an average rating of "Moderate Buy."
• Bentley Systems reported a 10.2% increase in quarterly revenue year-over-year, earning $0.32 EPS, which exceeded the consensus estimate of $0.29 EPS.

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $52.34, but opened at $55.20. Bentley Systems shares last traded at $54.99, with a volume of 719,462 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on BSY. UBS Group boosted their price target on Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Robert W. Baird set a $64.00 price objective on Bentley Systems and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Oppenheimer increased their price objective on Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Rosenblatt Securities downgraded shares of Bentley Systems from a "buy" rating to a "neutral" rating and upped their price target for the stock from $53.00 to $58.00 in a research report on Thursday, August 7th. Finally, Piper Sandler raised their price target on Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.60.

Bentley Systems Price Performance

The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. The company has a 50-day moving average price of $54.17 and a 200-day moving average price of $49.79. The company has a market capitalization of $16.21 billion, a price-to-earnings ratio of 70.26, a price-to-earnings-growth ratio of 4.15 and a beta of 1.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. The firm had revenue of $364.11 million for the quarter, compared to analysts' expectations of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. On average, equities research analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were paid a $0.07 dividend. The ex-dividend date was Tuesday, September 23rd. This represents a $0.28 annualized dividend and a yield of 0.5%. Bentley Systems's payout ratio is presently 35.44%.

Insider Buying and Selling

In other news, Director Keith A. Bentley sold 150,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the sale, the director owned 3,859,327 shares in the company, valued at $214,347,021.58. This represents a 3.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider David R. Shaman sold 19,348 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $56.96, for a total value of $1,102,062.08. Following the sale, the insider owned 647,609 shares in the company, valued at approximately $36,887,808.64. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 170,713 shares of company stock worth $9,511,690. Company insiders own 20.56% of the company's stock.

Institutional Investors Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently made changes to their positions in BSY. Orion Porfolio Solutions LLC acquired a new position in shares of Bentley Systems during the 2nd quarter worth approximately $208,000. State of Wyoming acquired a new position in shares of Bentley Systems during the 2nd quarter worth approximately $284,000. Tower Research Capital LLC TRC increased its holdings in shares of Bentley Systems by 471.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,738 shares of the company's stock worth $364,000 after acquiring an additional 5,559 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Bentley Systems by 8.8% during the 2nd quarter. Captrust Financial Advisors now owns 23,770 shares of the company's stock worth $1,283,000 after acquiring an additional 1,920 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of Bentley Systems during the 2nd quarter worth approximately $571,000. 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.

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