Bentley Systems (NASDAQ:BSY) Price Target Raised to $59.00

Bentley Systems (NASDAQ:BSY - Free Report) had its price objective raised by Oppenheimer from $50.00 to $59.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. UBS Group upped their price objective on shares of Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday. KeyCorp boosted their target price on Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Rosenblatt Securities lowered their target price on Bentley Systems from $62.00 to $53.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Mizuho lowered their target price on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $53.20.

Bentley Systems Stock Performance

Shares of NASDAQ:BSY traded up $0.23 on Thursday, hitting $57.81. The company had a trading volume of 1,437,345 shares, compared to its average volume of 1,271,887. Bentley Systems has a 1-year low of $36.51 and a 1-year high of $57.97. The stock has a market cap of $16.87 billion, a price-to-earnings ratio of 73.18, a P/E/G ratio of 4.68 and a beta of 1.09. The stock has a 50 day moving average price of $50.99 and a 200 day moving average price of $46.45. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $366.76 million. During the same period in the previous year, the company earned $0.31 earnings per share. The company's quarterly revenue was up 9.7% on a year-over-year basis. Analysts expect that Bentley Systems will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

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

Insiders Place Their Bets

In related news, insider David R. Shaman sold 19,348 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $56.96, for a total value of $1,102,062.08. Following the transaction, the insider directly owned 647,609 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, Director Raymond B. Bentley sold 355,103 shares of the stock in a transaction on 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 transaction, the director owned 15,992,321 shares in the company, valued at approximately $798,976,357.16. This represents a 2.17% decrease in their ownership of the stock. 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.

Hedge Funds Weigh In On Bentley Systems

A number of large investors have recently modified their holdings of BSY. Bessemer Group Inc. lifted its stake in Bentley Systems by 8,187,760.9% during the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after acquiring an additional 1,883,185 shares in the last quarter. Vanguard Group Inc. lifted its stake in Bentley Systems by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company's stock valued at $708,114,000 after acquiring an additional 898,115 shares in the last quarter. Federated Hermes Inc. bought a new position in Bentley Systems during the 1st quarter valued at $15,960,000. Sone Capital Management LLC bought a new position in Bentley Systems during the 4th quarter valued at $17,884,000. Finally, SG Americas Securities LLC lifted its stake in Bentley Systems by 449.7% during the 1st quarter. SG Americas Securities LLC now owns 384,291 shares of the company's stock valued at $15,118,000 after acquiring an additional 314,387 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

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.