Bentley Systems, Incorporated (NASDAQ:BSY) Stock Has Average Target Price of $46.67

Key Points

• Analysts rate Bentley Systems a “Moderate Buy”: Nine of 13 analysts recommend buying, while four rate it a hold; the average 12-month price target is $46.67.
• Quarterly results topped expectations: Bentley reported EPS of $0.36 versus the $0.33 consensus and revenue of $421.51 million, up 12.2% year over year.
• Insiders sold 1.11 million shares worth about $48.3 million over the last quarter; insiders still own 20.27% of the company.

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $46.67.

Several research firms recently issued reports on BSY. Piper Sandler reaffirmed an "overweight" rating and issued a $45.00 price objective on shares of Bentley Systems in a research report on Friday, August 7th. Royal Bank Of Canada lifted their target price on Bentley Systems from $48.00 to $52.00 and gave the stock an "outperform" rating in a report on Friday, November 6th. Cantor Fitzgerald boosted their price target on Bentley Systems from $42.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, November 6th. Rosenblatt Securities upped their price target on Bentley Systems from $50.00 to $53.00 and gave the company a "buy" rating in a report on Friday, November 6th. Finally, Weiss Ratings raised Bentley Systems from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, October 19th.

Bentley Systems Stock Up 0.3%

Shares of Bentley Systems stock opened at $44.33 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $12.90 billion, a PE ratio of 43.46, a price-to-earnings-growth ratio of 2.75 and a beta of 0.98. Bentley Systems has a 52-week low of $28.08 and a 52-week high of $48.17. The company has a 50-day simple moving average of $36.48 and a two-hundred day simple moving average of $34.67.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $421.51 million for the quarter, compared to analysts' expectations of $420.69 million. Bentley Systems had a net margin of 19.57% and a return on equity of 29.99%. The business's revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, analysts anticipate that Bentley Systems will post 1.20 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, September 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Bentley Systems's dividend payout ratio is 27.45%.

Insider Activity at Bentley Systems

In related news, CFO Werner Andre sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. Following the sale, the chief financial officer owned 367,843 shares in the company, valued at approximately $16,552,935. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Raymond Bentley sold 500,000 shares of Bentley Systems stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $46.47, for a total transaction of $23,235,000.00. Following the completion of the sale, the director directly owned 13,816,404 shares of the company's stock, valued at approximately $642,048,293.88. This trade represents a 3.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,110,000 shares of company stock worth $48,292,565 over the last quarter. Company insiders own 20.27% of the company's stock.

Hedge Funds Weigh In On Bentley Systems

Institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of Bentley Systems in the third quarter worth $202,000. Steward Partners Investment Advisory LLC lifted its holdings in Bentley Systems by 66.5% in the third quarter. Steward Partners Investment Advisory LLC now owns 4,680 shares of the company's stock valued at $150,000 after acquiring an additional 1,869 shares during the period. Meeder Advisory Services Inc. bought a new position in Bentley Systems in the third quarter valued at about $355,000. First Trust Advisors LP lifted its holdings in Bentley Systems by 405.2% in the third quarter. First Trust Advisors LP now owns 1,961,505 shares of the company's stock valued at $62,670,000 after acquiring an additional 1,573,218 shares during the period. Finally, Heartland Advisors Inc. purchased a new position in Bentley Systems in the third quarter worth about $7,378,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

About Bentley Systems

Bentley Systems develops software for professionals who design, build, and operate infrastructure. Its customers include engineering firms, architects, construction companies, and infrastructure owners and operators working on projects such as roads, railways, buildings, utilities, and industrial facilities. The company's products support computer-aided design, project collaboration, infrastructure asset management, and digital twin development. Its software portfolio includes MicroStation for design and modeling, ProjectWise for project information management, and the iTwin platform for creating and working with digital representations of infrastructure assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.