Bentley Systems (NASDAQ:BSY) Trading Up 3.1%

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report)'s share price rose 3.1% during trading on Wednesday . The stock traded as high as $50.59 and last traded at $50.44. Approximately 681,499 shares traded hands during trading, a decline of 37% from the average daily volume of 1,085,840 shares. The stock had previously closed at $48.90.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BSY shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. William Blair started coverage on Bentley Systems in a research note on Thursday, March 28th. They set an "outperform" rating for the company. Robert W. Baird lifted their price target on Bentley Systems from $58.00 to $59.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 6th. Rosenblatt Securities raised Bentley Systems from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $54.00 to $60.00 in a research note on Monday, February 26th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $60.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Bentley Systems has an average rating of "Moderate Buy" and an average price target of $58.44.

Bentley Systems Trading Up 2.5 %

The firm has a 50 day simple moving average of $50.60 and a 200 day simple moving average of $50.78. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $14.32 billion, a PE ratio of 49.39, a P/E/G ratio of 4.85 and a beta of 1.10.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. The firm had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The company's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. Equities analysts expect that Bentley Systems, Incorporated will post 0.82 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, March 19th. This is an increase from Bentley Systems's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.48%. Bentley Systems's payout ratio is 24.24%.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the firm's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the sale, the director now directly owns 17,164,179 shares of the company's stock, valued at $849,283,576.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.74% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bentley Systems

Large investors have recently made changes to their positions in the company. Raymond James & Associates increased its holdings in shares of Bentley Systems by 2.7% in the third quarter. Raymond James & Associates now owns 1,089,101 shares of the company's stock worth $54,629,000 after purchasing an additional 28,634 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Bentley Systems during the fourth quarter worth approximately $6,382,000. Victory Capital Management Inc. increased its stake in Bentley Systems by 70.0% during the third quarter. Victory Capital Management Inc. now owns 159,748 shares of the company's stock worth $8,013,000 after acquiring an additional 65,780 shares during the last quarter. Vanguard Group Inc. increased its stake in Bentley Systems by 2.6% during the third quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company's stock worth $1,091,604,000 after acquiring an additional 556,363 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Bentley Systems by 223.4% during the third quarter. California Public Employees Retirement System now owns 1,045,289 shares of the company's stock worth $52,432,000 after acquiring an additional 722,046 shares during the last quarter. 44.16% of the stock is owned by institutional investors.

About Bentley Systems

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.