Rosenblatt Securities Has Lowered Expectations for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY - Free Report) had its price target reduced by Rosenblatt Securities from $62.00 to $53.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group began coverage on shares of Bentley Systems in a research note on Monday, March 31st. They issued a "neutral" rating and a $48.00 target price on the stock. KeyCorp reduced their price target on shares of Bentley Systems from $63.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Mizuho dropped their price objective on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Finally, The Goldman Sachs Group downgraded Bentley Systems from a "neutral" rating to a "sell" rating and cut their price objective for the company from $51.00 to $42.00 in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $51.80.

Bentley Systems Price Performance

Shares of Bentley Systems stock traded up $2.47 during midday trading on Monday, hitting $46.24. 2,525,745 shares of the company were exchanged, compared to its average volume of 1,205,798. The firm has a 50 day simple moving average of $42.03 and a 200-day simple moving average of $45.63. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $14.02 billion, a P/E ratio of 41.66, a PEG ratio of 3.52 and a beta of 1.05. Bentley Systems has a 52 week low of $36.51 and a 52 week high of $57.19.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Wednesday, March 19th. This is a positive change from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio is 38.36%.

Institutional Trading of Bentley Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its position in shares of Bentley Systems by 44.7% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 804,061 shares of the company's stock worth $31,608,000 after buying an additional 248,359 shares during the period. Pacer Advisors Inc. grew its holdings in Bentley Systems by 138.1% during the 1st quarter. Pacer Advisors Inc. now owns 128,049 shares of the company's stock worth $5,037,000 after acquiring an additional 74,271 shares during the period. Machina Capital S.A.S. raised its position in shares of Bentley Systems by 23.9% during the 1st quarter. Machina Capital S.A.S. now owns 16,314 shares of the company's stock valued at $642,000 after acquiring an additional 3,148 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Bentley Systems by 3.5% in the 1st quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company's stock valued at $371,000 after purchasing an additional 315 shares during the period. Finally, Oak Thistle LLC bought a new position in shares of Bentley Systems in the 1st quarter worth $1,274,000. 44.16% of the stock is owned by institutional investors.

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.