Bentley Systems (NASDAQ:BSY) Stock Price Expected to Rise, Oppenheimer Analyst Says

Bentley Systems (NASDAQ:BSY - Free Report) had its target price upped by Oppenheimer from $50.00 to $59.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also issued reports on BSY. KeyCorp raised their target price on shares of Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Mizuho cut their price target on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Wall Street Zen lowered shares of Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday. Royal Bank Of Canada lifted their price objective on shares of Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Rosenblatt Securities lowered their price objective on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Bentley Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.20.

Bentley Systems Stock Up 0.4%

Shares of BSY traded up $0.23 during mid-day trading on Thursday, hitting $57.81. 1,437,345 shares of the company's stock were exchanged, compared to its average volume of 1,275,865. The firm has a fifty day moving average of $51.22 and a two-hundred day moving average of $46.52. Bentley Systems has a twelve month low of $36.51 and a twelve month high of $57.99. The stock has a market cap of $16.87 billion, a price-to-earnings ratio of 73.18, a P/E/G ratio of 4.70 and a beta of 1.09. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.13.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.05. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The firm had revenue of $370.54 million during the quarter, compared to the consensus estimate of $366.76 million. During the same period in the prior year, the firm earned $0.31 EPS. The business's revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts forecast that Bentley Systems will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems's dividend payout ratio is presently 35.44%.

Insiders Place Their Bets

In other news, insider David R. Shaman sold 19,348 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the sale, the insider directly owned 647,609 shares of the company's stock, valued at $36,887,808.64. This trade represents a 2.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Raymond B. Bentley sold 355,103 shares of Bentley Systems stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.96, for a total value of $17,740,945.88. Following the completion of the sale, the director directly owned 15,992,321 shares of the company's stock, valued at approximately $798,976,357.16. This trade represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,201,832 shares of company stock valued at $61,414,013 over the last 90 days. 20.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Bentley Systems

Large investors have recently modified their holdings of the business. Proficio Capital Partners LLC purchased a new position in Bentley Systems in the 4th quarter worth approximately $809,000. Two Sigma Investments LP increased its stake in shares of Bentley Systems by 42.3% during the fourth quarter. Two Sigma Investments LP now owns 42,700 shares of the company's stock valued at $1,994,000 after buying an additional 12,689 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Bentley Systems during the first quarter valued at approximately $920,000. Bright Rock Capital Management LLC purchased a new position in shares of Bentley Systems during the first quarter valued at approximately $1,967,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Bentley Systems by 99.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock valued at $56,000 after buying an additional 706 shares during the period. Institutional investors own 44.16% of the company's stock.

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.