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

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $56.7273.

A number of analysts have issued reports on BSY shares. Barclays assumed coverage on shares of Bentley Systems in a research note on Tuesday, October 7th. They set an “equal weight” rating and a $57.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 target price on shares of Bentley Systems in a research note on Thursday, November 6th. JPMorgan Chase & Co. reduced their target price on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Piper Sandler decreased their price target on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, Robert W. Baird dropped their price target on shares of Bentley Systems from $64.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th.

Institutional Investors Weigh In On Bentley Systems

A number of hedge funds have recently bought and sold shares of BSY. William Blair Investment Management LLC acquired a new position in shares of Bentley Systems during the third quarter worth about $150,903,000. Manning & Napier Advisors LLC acquired a new stake in Bentley Systems in the third quarter valued at approximately $122,028,000. Bank of New York Mellon Corp lifted its stake in Bentley Systems by 207.6% in the second quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock worth $165,259,000 after acquiring an additional 2,066,725 shares during the last quarter. Vanguard Group Inc. grew its holdings in Bentley Systems by 10.7% during the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock worth $957,922,000 after acquiring an additional 1,792,591 shares in the last quarter. Finally, Norges Bank acquired a new position in Bentley Systems during the 2nd quarter worth approximately $56,452,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Trading Up 0.6%

BSY opened at $39.98 on Tuesday. Bentley Systems has a 52 week low of $36.51 and a 52 week high of $59.25. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $45.01 and a 200-day simple moving average of $50.74. The firm has a market cap of $11.67 billion, a P/E ratio of 47.60, a P/E/G ratio of 3.12 and a beta of 1.23.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. Bentley Systems had a return on equity of 28.16% and a net margin of 18.45%.The firm had revenue of $375.55 million for the quarter, compared to analyst estimates of $369.57 million. During the same quarter in the prior year, the company earned $0.24 EPS. Bentley Systems’s revenue was up 12.0% on a year-over-year basis. On average, equities analysts expect that Bentley Systems will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, December 4th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, December 4th. Bentley Systems’s payout ratio is presently 33.33%.

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.