Bentley Systems, Incorporated (NASDAQ:BSY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Bentley Systems, Incorporated (NASDAQ:BSY) has been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $45.00.

Several research firms have commented on BSY. 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 note on Friday, May 29th. Piper Sandler reissued an “overweight” rating and issued a $45.00 target price on shares of Bentley Systems in a research note on Friday, August 7th. Mizuho lowered their target price on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Zacks Research cut shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, BMO Capital Markets lifted their price target on shares of Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Los Angeles Capital Management LLC bought a new stake in shares of Bentley Systems during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its holdings in Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after acquiring an additional 627 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Bentley Systems in the 3rd quarter valued at $37,000. IFP Advisors Inc grew its position in Bentley Systems by 174.5% in the 3rd quarter. IFP Advisors Inc now owns 763 shares of the company’s stock valued at $39,000 after acquiring an additional 485 shares during the last quarter. Finally, Physician Wealth Advisors Inc. grew its position in Bentley Systems by 80.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after acquiring an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

NASDAQ:BSY opened at $35.73 on Thursday. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of 39.26, a PEG ratio of 2.27 and a beta of 0.98. Bentley Systems has a 1 year low of $28.08 and a 1 year high of $57.25. The business has a 50 day simple moving average of $32.25 and a 200-day simple moving average of $33.85. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Bentley Systems (NASDAQ:BSY) last released its earnings results 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 return on equity of 28.43% and a net margin of 18.10%.The firm had revenue of $410.73 million for the quarter, compared to the consensus estimate of $412.12 million. During the same quarter in the previous year, the company posted $0.32 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts forecast that Bentley Systems will post 1.2 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.28 annualized dividend and a yield of 0.8%. Bentley Systems’s dividend payout ratio (DPR) is presently 30.77%.

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.