Bentley Systems (NASDAQ:BSY) Shares Up 8% - Should You Buy?

Key Points

• Bentley Systems shares jumped 8% to about $34.80, although trading volume was 84% below the stock’s average session volume.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $44.38, representing potential upside from the trading price.
• The company reported quarterly EPS of $0.35, beating estimates by $0.03, while revenue increased 12.8% year over year. Bentley also maintains a $0.07 quarterly dividend, equal to a 0.8% annual yield.

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) shares shot up 8% during mid-day trading on Monday. The company traded as high as $35.45 and last traded at $34.8020. 457,535 shares traded hands during trading, a decline of 84% from the average session volume of 2,860,896 shares. The stock had previously closed at $32.23.

Analysts Set New Price Targets

BSY has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on shares of Bentley Systems from $41.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Cantor Fitzgerald assumed coverage on shares of Bentley Systems in a report on Monday, September 14th. They issued an "overweight" rating and a $37.00 price target on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $50.00 target price on shares of Bentley Systems in a research note on Monday, August 10th. BNP Paribas Exane started coverage on shares of Bentley Systems in a research note on Thursday, June 18th. They set an "outperform" rating and a $40.00 target price for the company. Finally, Weiss Ratings raised shares of Bentley Systems from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.38.

Bentley Systems Price Performance

The firm's 50-day moving average is $34.33 and its 200-day moving average is $33.34. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $10.21 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 2.01 and a beta of 0.99.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.03. The firm had revenue of $410.73 million during the quarter, compared to analyst estimates of $412.12 million. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.Bentley Systems's quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. Equities analysts predict that Bentley Systems, Incorporated will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. Bentley Systems's dividend payout ratio (DPR) is presently 30.77%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CX Institutional increased its stake in Bentley Systems by 119.5% in the 3rd quarter. CX Institutional now owns 2,061 shares of the company's stock valued at $66,000 after buying an additional 1,122 shares during the last quarter. Tidal Investments LLC boosted its stake in Bentley Systems by 17.0% in the second quarter. Tidal Investments LLC now owns 32,723 shares of the company's stock worth $978,000 after buying an additional 4,756 shares in the last quarter. Whetstone Capital Advisors LLC purchased a new position in shares of Bentley Systems during the 2nd quarter worth approximately $2,935,000. Integrated Wealth Concepts LLC lifted its stake in shares of Bentley Systems by 75.7% in the second quarter. Integrated Wealth Concepts LLC now owns 10,886 shares of the company's stock worth $325,000 after buying an additional 4,691 shares in the last quarter. Finally, Nykredit A S bought a new position in Bentley Systems in the 2nd quarter worth $167,000. 44.16% of the stock is owned by institutional investors.

Bentley Systems Company Profile

Bentley Systems, Incorporated NASDAQ: BSY develops software for the design, construction, and operation of infrastructure. Its solutions support organizations involved in transportation, water and wastewater, utilities, buildings, industrial facilities, mining, and other infrastructure sectors.

The company's product portfolio includes engineering and design applications such as MicroStation, OpenRoads, OpenBuildings, and OpenPlant, as well as ProjectWise for project collaboration and AssetWise for asset performance and operations.

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