Bentley Systems (NASDAQ:BSY) Sets New 1-Year High at $56.43

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $56.43 and last traded at $56.38, with a volume of 584865 shares. The stock had previously closed at $56.08.

Analysts Set New Price Targets

A number of research firms recently weighed in on BSY. Rosenblatt Securities reaffirmed a "buy" rating and issued a $60.00 price target on shares of Bentley Systems in a report on Tuesday, April 30th. Mizuho upped their price target on Bentley Systems from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, May 8th. William Blair began coverage on Bentley Systems in a report on Thursday, March 28th. They issued an "outperform" rating for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $61.00 price target on shares of Bentley Systems in a report on Wednesday, February 28th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $63.00 price target (up previously from $60.00) on shares of Bentley Systems in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.29.

Bentley Systems Trading Up 0.7 %

The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.57 and a current ratio of 0.57. The company has a 50 day simple moving average of $51.64 and a 200 day simple moving average of $51.16. The company has a market capitalization of $16.29 billion, a PE ratio of 52.51, a price-to-earnings-growth ratio of 4.92 and a beta of 1.08.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. The business had revenue of $310.64 million during the quarter, compared to analyst estimates of $313.67 million. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. The business's revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. Analysts anticipate that Bentley Systems, Incorporated will post 0.85 earnings per share for the current year.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This is a positive change from Bentley Systems's previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.43%. Bentley Systems's dividend payout ratio is 22.43%.

Insider Activity

In other news, Director Keith A. Bentley sold 17,021 shares of the company's stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the sale, the director now directly owns 17,150,752 shares in the company, valued at $943,291,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares in the company, valued at $943,291,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith A. Bentley sold 118,949 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total value of $6,543,384.49. Following the completion of the transaction, the director now owns 17,031,803 shares of the company's stock, valued at $936,919,483.03. The disclosure for this sale can be found here. Insiders sold 284,315 shares of company stock worth $15,148,243 over the last ninety days. Corporate insiders own 21.12% of the company's stock.

Institutional Trading of Bentley Systems

Hedge funds have recently modified their holdings of the stock. M&T Bank Corp grew its holdings in shares of Bentley Systems by 0.4% during the third quarter. M&T Bank Corp now owns 57,456 shares of the company's stock worth $2,882,000 after purchasing an additional 218 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in shares of Bentley Systems by 1.9% during the third quarter. Wealthfront Advisers LLC now owns 12,108 shares of the company's stock worth $607,000 after purchasing an additional 228 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Bentley Systems by 87.3% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company's stock worth $28,000 after purchasing an additional 254 shares during the last quarter. MJP Associates Inc. ADV grew its holdings in shares of Bentley Systems by 3.9% during the fourth quarter. MJP Associates Inc. ADV now owns 7,346 shares of the company's stock worth $383,000 after purchasing an additional 277 shares during the last quarter. Finally, Portside Wealth Group LLC grew its holdings in shares of Bentley Systems by 2.8% during the fourth quarter. Portside Wealth Group LLC now owns 11,412 shares of the company's stock worth $595,000 after purchasing an additional 308 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

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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