Bentley Systems (NASDAQ:BSY) Given New $60.00 Price Target at Piper Sandler

Bentley Systems (NASDAQ:BSY) had its target price reduced by Piper Sandler from $63.00 to $60.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently issued reports on BSY. Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Bentley Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Rosenblatt Securities upgraded Bentley Systems from a “neutral” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Friday, October 17th. Barclays began coverage on Bentley Systems in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $57.00 price objective for the company. Finally, Oppenheimer increased their price objective on Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and an average target price of $56.73.

Bentley Systems Stock Up 0.6%

BSY stock traded up $0.28 during midday trading on Thursday, hitting $46.71. The company’s stock had a trading volume of 3,004,547 shares, compared to its average volume of 1,694,158. The firm has a 50-day simple moving average of $52.17 and a 200-day simple moving average of $51.65. The firm has a market capitalization of $13.64 billion, a P/E ratio of 55.61, a PEG ratio of 3.91 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07. Bentley Systems has a 52-week low of $36.51 and a 52-week high of $59.25.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The firm had revenue of $375.55 million during the quarter, compared to analyst estimates of $369.57 million. Bentley Systems had a return on equity of 28.76% and a net margin of 18.45%.Bentley Systems’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. As a group, equities analysts forecast that Bentley Systems will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 23rd. Bentley Systems’s dividend payout ratio is presently 33.33%.

Institutional Trading of Bentley Systems

A number of large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas acquired a new position in Bentley Systems in the 1st quarter valued at $920,000. CWM LLC increased its stake in shares of Bentley Systems by 31.1% during the first quarter. CWM LLC now owns 38,413 shares of the company’s stock worth $1,511,000 after acquiring an additional 9,110 shares during the period. Bessemer Group Inc. raised its holdings in Bentley Systems by 3.6% during the second quarter. Bessemer Group Inc. now owns 1,951,363 shares of the company’s stock worth $105,314,000 after purchasing an additional 68,155 shares in the last quarter. Jump Financial LLC acquired a new stake in Bentley Systems in the first quarter valued at about $333,000. Finally, Vanguard Group Inc. boosted its holdings in Bentley Systems by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock valued at $708,114,000 after purchasing an additional 898,115 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Company Profile

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.