Bentley Systems (NASDAQ:BSY) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Bentley Systems (NASDAQ:BSY) in a report published on Friday,Benzinga reports. The firm currently has a $45.00 price objective on the stock.

Several other research analysts have also recently weighed in on the stock. Barclays dropped their price objective on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, May 29th. Mizuho cut their target price on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Zacks Research lowered shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Weiss Ratings downgraded Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 16th. Finally, BMO Capital Markets raised their target price on Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $35.21 on Friday. The firm’s 50-day simple moving average is $32.14 and its 200 day simple moving average is $33.91. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 38.69, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Bentley Systems has a 12-month low of $28.08 and a 12-month high of $57.25.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The firm had revenue of $410.73 million during the quarter, compared to analysts’ expectations of $412.12 million. During the same quarter last year, the company posted $0.32 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, research analysts expect that Bentley Systems will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s payout ratio is presently 30.77%.

Institutional Trading of Bentley Systems

A number of large investors have recently added to or reduced their stakes in the company. Cresset Asset Management LLC boosted its stake in shares of Bentley Systems by 6.5% during the third quarter. Cresset Asset Management LLC now owns 4,882 shares of the company’s stock valued at $251,000 after purchasing an additional 296 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Bentley Systems by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 49,175 shares of the company’s stock worth $2,532,000 after buying an additional 305 shares during the period. Lansforsakringar Fondforvaltning AB publ boosted its position in shares of Bentley Systems by 0.7% during the 4th quarter. Lansforsakringar Fondforvaltning AB publ now owns 50,048 shares of the company’s stock valued at $1,910,000 after purchasing an additional 326 shares in the last quarter. National Pension Service lifted its position in shares of Bentley Systems by 63.0% during the 4th quarter. National Pension Service now owns 880 shares of the company’s stock valued at $34,000 after acquiring an additional 340 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in shares of Bentley Systems by 63.7% during the fourth quarter. Global Retirement Partners LLC now owns 889 shares of the company’s stock valued at $34,000 after purchasing an additional 346 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.