Bentley Systems, Incorporated (NASDAQ:BSY) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Bentley Systems has a “Moderate Buy” consensus rating from 15 analysts, with nine buys, one strong buy, four holds and one sell. The average 12-month price target is $44.38, above the reported share price of $31.90.
• The company reported quarterly adjusted earnings of $0.35 per share, beating estimates of $0.32, while revenue rose 12.8% year over year to $410.73 million, slightly below expectations.
• Bentley Systems declared a quarterly dividend of $0.07 per share, equivalent to $0.28 annually and a 0.9% yield; institutional investors own 44.16% of the company.

Shares of Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fifteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $44.38.

BSY has been the subject of a number of recent research reports. Barclays reduced their price target on Bentley Systems from $49.00 to $40.00 and set an "equal weight" rating for the company in a research report on Friday, May 29th. Cantor Fitzgerald started coverage on shares of Bentley Systems in a report on Monday, September 14th. They issued an "overweight" rating and a $37.00 price objective on the stock. BMO Capital Markets boosted their price objective on shares of Bentley Systems from $41.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. BNP Paribas Exane began coverage on shares of Bentley Systems in a report on Thursday, June 18th. They set an "outperform" rating and a $40.00 target price for the company. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $45.00 target price on shares of Bentley Systems in a research report on Friday, August 7th.

Bentley Systems Stock Performance

BSY opened at $31.90 on Friday. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 35.05, a P/E/G ratio of 2.00 and a beta of 0.98. The business's 50-day moving average price is $34.25 and its two-hundred day moving average price is $33.64. Bentley Systems has a 1 year low of $28.08 and a 1 year high of $57.25. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The company had revenue of $410.73 million during the quarter, compared to analysts' expectations of $412.12 million. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.Bentley Systems's revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Equities analysts expect that Bentley Systems will post 1.2 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 22nd. Bentley Systems's dividend payout ratio is currently 30.77%.

Institutional Trading of Bentley Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its position in Bentley Systems by 17.0% during the second quarter. Tidal Investments LLC now owns 32,723 shares of the company's stock valued at $978,000 after purchasing an additional 4,756 shares during the last quarter. Whetstone Capital Advisors LLC bought a new position in Bentley Systems in the second quarter valued at approximately $2,935,000. Integrated Wealth Concepts LLC increased its position in shares of Bentley Systems by 75.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 10,886 shares of the company's stock worth $325,000 after purchasing an additional 4,691 shares during the last quarter. Nykredit A S bought a new stake in shares of Bentley Systems during the 2nd quarter worth approximately $167,000. Finally, Groupe la Francaise raised its stake in shares of Bentley Systems by 46.1% during the 2nd quarter. Groupe la Francaise now owns 159,678 shares of the company's stock worth $4,776,000 after purchasing an additional 50,412 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

About Bentley Systems

Bentley Systems, Incorporated develops software for professionals and organizations involved in the planning, design, construction and operation of infrastructure. Its solutions support sectors including transportation, water and wastewater, utilities, buildings, industrial facilities, mining and other public and private infrastructure markets.

The company's product portfolio includes MicroStation for infrastructure design and modeling; ProjectWise for project collaboration and information management; AssetWise for asset performance and operations; OpenRoads and OpenBuildings for specialized design workflows; SYNCHRO for construction management; and the iTwin platform for creating and using digital twins of infrastructure assets.

Founded in 1984 by brothers Keith, Barry and Raymond Bentley, Bentley Systems is headquartered in Exton, Pennsylvania, and serves customers globally.

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