Bentley Systems (NASDAQ:BSY) Earns "Overweight" Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of Bentley Systems (NASDAQ:BSY - Free Report) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $63.00 price objective on the stock, up from their prior price objective of $60.00.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an outperform rating in a research report on Tuesday, February 6th. Royal Bank of Canada reissued an outperform rating and issued a $61.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Rosenblatt Securities reaffirmed a buy rating and set a $60.00 price target on shares of Bentley Systems in a research 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 research report on Wednesday. Finally, William Blair assumed coverage on Bentley Systems in a research note on Thursday, March 28th. They issued an outperform rating for the company. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $59.33.

Bentley Systems Stock Down 1.0 %

BSY stock traded down $0.57 during midday trading on Wednesday, hitting $54.36. The company's stock had a trading volume of 1,015,484 shares, compared to its average volume of 1,323,613. The firm's 50-day moving average is $50.94 and its 200-day moving average is $50.89. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72. Bentley Systems has a 12 month low of $42.11 and a 12 month high of $55.37. The company has a market cap of $15.54 billion, a PE ratio of 54.73, a P/E/G ratio of 5.36 and a beta of 1.08.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced 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. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The firm had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. During the same period in the prior year, the company posted $0.13 earnings per share. The company's quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Bentley Systems will post 0.82 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.24 dividend on an annualized basis and a yield of 0.44%. This is a boost from Bentley Systems's previous quarterly dividend of $0.05. Bentley Systems's payout ratio is presently 24.24%.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the company's stock in a transaction 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 approximately $943,291,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now directly owns 17,150,752 shares in the company, valued at $943,291,360. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Keith A. Bentley sold 88,925 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now directly 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. Corporate insiders own 21.12% of the company's stock.

Institutional Investors Weigh In On Bentley Systems

Several institutional investors and hedge funds have recently made changes to their positions in BSY. M&T Bank Corp increased its stake in shares of Bentley Systems by 0.4% in the third quarter. M&T Bank Corp now owns 57,456 shares of the company's stock worth $2,882,000 after acquiring an additional 218 shares during the period. Wealthfront Advisers LLC boosted its position in Bentley Systems by 1.9% in the 3rd quarter. Wealthfront Advisers LLC now owns 12,108 shares of the company's stock worth $607,000 after purchasing an additional 228 shares in the last quarter. Private Trust Co. NA grew its stake in shares of Bentley Systems by 87.3% during the 4th 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 period. MJP Associates Inc. ADV increased its holdings in shares of Bentley Systems by 3.9% during the 4th quarter. MJP Associates Inc. ADV now owns 7,346 shares of the company's stock valued at $383,000 after purchasing an additional 277 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in 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 buying an additional 308 shares in 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.