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

Bentley Systems, Incorporated (NASDAQ:BSY) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. One investment 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 1 year target price among brokerages that have updated their coverage on the stock in the last year is $54.5455.

Several brokerages have issued reports on BSY. Barclays decreased their price target on shares of Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday. Rosenblatt Securities reissued a “buy” rating and issued a $58.00 price objective on shares of Bentley Systems in a research note on Thursday, November 6th. JPMorgan Chase & Co. decreased their price objective on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Royal Bank Of Canada cut their target price on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Finally, Piper Sandler reduced their price target on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Bentley Systems by 37.6% in the 2nd quarter. Allworth Financial LP now owns 702 shares of the company’s stock worth $38,000 after purchasing an additional 192 shares during the period. Thrive Wealth Management LLC raised its stake in Bentley Systems by 2.5% during the third quarter. Thrive Wealth Management LLC now owns 8,301 shares of the company’s stock worth $427,000 after buying an additional 200 shares during the last quarter. Genesis Private Wealth LLC lifted its holdings in Bentley Systems by 5.4% in the third quarter. Genesis Private Wealth LLC now owns 3,967 shares of the company’s stock valued at $204,000 after buying an additional 204 shares during the period. Blue Trust Inc. boosted its position in Bentley Systems by 19.3% during the second quarter. Blue Trust Inc. now owns 1,305 shares of the company’s stock valued at $70,000 after acquiring an additional 211 shares during the last quarter. Finally, Shell Asset Management Co. boosted its position in Bentley Systems by 4.8% during the third quarter. Shell Asset Management Co. now owns 5,421 shares of the company’s stock valued at $279,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $39.14 on Friday. The stock has a market cap of $11.43 billion, a P/E ratio of 46.60, a price-to-earnings-growth ratio of 2.69 and a beta of 1.21. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. The stock’s 50-day moving average is $40.70 and its 200-day moving average is $49.22. Bentley Systems has a 1-year low of $36.51 and a 1-year high of $59.25.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The business had revenue of $375.55 million during the quarter, compared to analyst estimates of $369.57 million. During the same quarter last year, the business earned $0.24 EPS. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts anticipate that Bentley Systems will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

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

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.