Bentley Systems (NASDAQ:BSY) Given Overweight Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Bentley Systems (NASDAQ:BSY) in a report released on Wednesday, Benzinga reports. Piper Sandler currently has a $63.00 price target on the stock, up from their previous price target of $60.00.

A number of other equities analysts have also recently issued reports on the company. 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. Robert W. Baird lifted their price objective on Bentley Systems from $58.00 to $59.00 and gave the company an outperform rating in a report on Tuesday, February 6th. Mizuho upped their price objective on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a buy rating in a research note on Wednesday. Rosenblatt Securities reiterated a buy rating and issued a $60.00 target price on shares of Bentley Systems in a research note on Tuesday, April 30th. Finally, William Blair assumed coverage on Bentley Systems in a research report on Thursday, March 28th. They set an outperform rating on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $59.33.

Bentley Systems Stock Down 1.0 %

Shares of BSY stock opened at $54.36 on Wednesday. Bentley Systems has a one year low of $42.11 and a one year high of $55.37. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a fifty day moving average price of $50.94 and a 200 day moving average price of $50.89. The stock has a market cap of $15.54 billion, a P/E ratio of 54.91, a price-to-earnings-growth ratio of 5.36 and a beta of 1.08.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $310.64 million during the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. Analysts predict that Bentley Systems will post 0.82 earnings per share for the current year.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were paid a $0.06 dividend. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is 24.24%.

Insider Activity

In other news, Director Keith A. Bentley sold 88,925 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total value of $4,400,009.00. Following the transaction, the director now owns 17,164,179 shares of the company’s stock, valued at approximately $849,283,576.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Keith A. Bentley sold 88,925 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total value of $4,400,009.00. Following the sale, the director now directly owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Bentley sold 17,021 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bentley Systems

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Bentley Systems by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company’s stock valued at $1,154,093,000 after purchasing an additional 355,092 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Bentley Systems by 4.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock valued at $677,987,000 after buying an additional 578,512 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in Bentley Systems by 1.9% during the third quarter. Artisan Partners Limited Partnership now owns 5,446,498 shares of the company’s stock worth $273,196,000 after buying an additional 100,207 shares during the last quarter. Northern Trust Corp raised its position in Bentley Systems by 6.5% during the third quarter. Northern Trust Corp now owns 1,625,197 shares of the company’s stock worth $81,520,000 after acquiring an additional 99,319 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Bentley Systems by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,430,019 shares of the company’s stock valued at $74,618,000 after acquiring an additional 28,285 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

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.