Bentley Systems’ (BSY) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Bentley Systems (NASDAQ:BSY) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $45.00 price objective on the stock.

A number of other research analysts have also recently commented on the stock. Bank of America initiated coverage on shares of Bentley Systems in a research note on Tuesday, May 12th. They set a “buy” rating and a $40.00 price target for the company. Zacks Research cut 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 report on Thursday, July 16th. Mizuho decreased their price target 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. Finally, BNP Paribas Exane assumed coverage on Bentley Systems in a research note on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Bentley Systems Price Performance

Shares of BSY stock opened at $35.21 on Friday. Bentley Systems has a one year low of $28.08 and a one year high of $57.25. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a fifty day moving average price of $32.14 and a 200 day moving average price of $33.91. The stock has a market cap of $10.23 billion, a P/E ratio of 38.69, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $412.12 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Analysts predict that Bentley Systems will post 1.2 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.8%. Bentley Systems’s payout ratio is currently 30.77%.

Institutional Trading of Bentley Systems

Several large investors have recently made changes to their positions in BSY. Bank of New York Mellon Corp acquired a new stake in shares of Bentley Systems in the second quarter valued at $78,738,000. Harbor Investment Advisory LLC acquired a new position in Bentley Systems during the 2nd quarter worth about $30,000. CX Institutional lifted its position in Bentley Systems by 898.9% during the 2nd quarter. CX Institutional now owns 939 shares of the company’s stock worth $28,000 after buying an additional 845 shares in the last quarter. Parallel Advisors LLC lifted its position in Bentley Systems by 49.5% during the 1st quarter. Parallel Advisors LLC now owns 2,445 shares of the company’s stock worth $86,000 after buying an additional 810 shares in the last quarter. Finally, Groupama Asset Managment grew its holdings in Bentley Systems by 38.0% during the 1st quarter. Groupama Asset Managment now owns 14,821 shares of the company’s stock worth $521,000 after acquiring an additional 4,085 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

About Bentley Systems

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.