Bentley Systems, Incorporated (NASDAQ:BSY) Receives $45.54 Consensus Price Target from Analysts

Bentley Systems, Incorporated (NASDAQ:BSY) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $45.5385.

BSY has been the topic of a number of research reports. Zacks Research lowered shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Mizuho dropped their price objective on Bentley Systems from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Bank of America started coverage on Bentley Systems in a report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price objective on the stock. UBS Group decreased their target price on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Finally, Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $42.00 to $45.00 in a report on Friday, May 8th.

Bentley Systems Trading Up 5.0%

NASDAQ BSY opened at $33.11 on Friday. The stock has a market cap of $9.68 billion, a PE ratio of 37.63, a PEG ratio of 2.03 and a beta of 1.00. Bentley Systems has a 12 month low of $28.08 and a 12 month high of $59.25. The company’s 50-day moving average price is $31.72 and its 200-day moving average price is $34.49. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $424.18 million during the quarter, compared to analyst estimates of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. Equities research analysts forecast that Bentley Systems will post 1.2 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s payout ratio is presently 31.82%.

Institutional Trading of Bentley Systems

A number of hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new position in Bentley Systems during the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. lifted its position in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Bentley Systems during the third quarter valued at approximately $37,000. IFP Advisors Inc boosted its stake in shares of Bentley Systems by 174.5% during the third quarter. IFP Advisors Inc now owns 763 shares of the company’s stock valued at $39,000 after purchasing an additional 485 shares in the last quarter. Finally, Physician Wealth Advisors Inc. increased its holdings in Bentley Systems by 80.2% during the first quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after buying an additional 352 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

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.