Rosenblatt Securities Reiterates Buy Rating for Bentley Systems (NASDAQ:BSY)

Rosenblatt Securities reaffirmed their buy rating on shares of Bentley Systems (NASDAQ:BSY - Free Report) in a report issued on Tuesday morning, Benzinga reports. They currently have a $60.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. Piper Sandler reissued an overweight rating and issued a $60.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Robert W. Baird lifted their price objective on Bentley Systems from $58.00 to $59.00 and gave the company an outperform rating in a report on Tuesday, February 6th. William Blair began coverage on shares of Bentley Systems in a report on Thursday, March 28th. They issued an outperform rating on the stock. Finally, Royal Bank of Canada reissued an outperform rating and set a $61.00 price target on shares of Bentley Systems in a report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $58.44.

Bentley Systems Stock Performance

Bentley Systems stock traded down $1.03 during trading hours on Tuesday, hitting $52.53. The stock had a trading volume of 1,078,763 shares, compared to its average volume of 1,330,061. The company has a 50-day moving average of $50.81 and a two-hundred day moving average of $50.86. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72. Bentley Systems has a fifty-two week low of $41.44 and a fifty-two week high of $55.37. The company has a market cap of $15.01 billion, a PE ratio of 53.06, a price-to-earnings-growth ratio of 5.44 and a beta of 1.10.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The business had revenue of $310.64 million during the quarter, compared to analyst estimates of $313.67 million. During the same period in the prior year, the company posted $0.13 earnings per share. Bentley Systems's revenue was up 8.3% on a year-over-year basis. On average, equities research analysts anticipate that Bentley Systems will post 0.82 EPS for the current fiscal year.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.46%. The ex-dividend date was Tuesday, March 19th. This is a boost from Bentley Systems's previous quarterly dividend of $0.05. Bentley Systems's dividend payout ratio (DPR) is presently 24.24%.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the company's stock in a transaction on 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 transaction, the director now owns 17,164,179 shares of the company's stock, valued at approximately $849,283,576.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Keith A. Bentley sold 17,021 shares of the business's stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the sale, the director now owns 17,150,752 shares in the company, valued at $943,291,360. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Keith A. Bentley sold 88,925 shares of the business's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total value of $4,400,009.00. Following the sale, the director now owns 17,164,179 shares of the company's stock, valued at approximately $849,283,576.92. The disclosure for this sale can be found here. 21.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Private Trust Co. NA increased its holdings in Bentley Systems by 87.3% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company's stock valued at $28,000 after purchasing an additional 254 shares during the last quarter. Fifth Third Bancorp increased its holdings in Bentley Systems by 97.4% in the fourth quarter. Fifth Third Bancorp now owns 752 shares of the company's stock valued at $39,000 after purchasing an additional 371 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Bentley Systems by 496.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 900 shares of the company's stock valued at $47,000 after purchasing an additional 749 shares during the last quarter. Van ECK Associates Corp bought a new stake in Bentley Systems in the fourth quarter valued at about $72,000. Finally, Global Retirement Partners LLC increased its holdings in Bentley Systems by 439.4% in the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the company's stock valued at $73,000 after purchasing an additional 1,226 shares during the last quarter. Institutional investors own 44.16% of the company's stock.

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.