Bentley Systems (NASDAQ:BSY) Research Coverage Started at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Bentley Systems (NASDAQ:BSY) in a research note published on Thursday, Marketbeat.com reports. The brokerage issued an outperform rating and a $48.00 price objective on the stock.

BSY has been the subject of a number of other research reports. Oppenheimer decreased their price objective on shares of Bentley Systems from $65.00 to $53.00 and set an “outperform” rating for the company in a report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 target price on shares of Bentley Systems in a research report on Thursday, November 6th. 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 note on Monday, January 12th. Piper Sandler dropped their price objective on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Robert W. Baird set a $55.00 price objective on Bentley Systems in a report on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Bentley Systems currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Bentley Systems Trading Down 0.9%

BSY opened at $38.84 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The stock’s 50 day moving average price is $40.13 and its 200-day moving average price is $48.59. Bentley Systems has a one year low of $36.51 and a one year high of $59.25. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 46.24, a P/E/G ratio of 2.69 and a beta of 1.21.

Bentley Systems (NASDAQ:BSY) last posted 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 return on equity of 28.16% and a net margin of 18.45%.The company had revenue of $375.55 million during the quarter, compared to analysts’ expectations of $369.57 million. During the same quarter in the previous year, the business earned $0.24 EPS. Bentley Systems’s revenue was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that Bentley Systems will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, December 4th were issued 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 was Thursday, December 4th. Bentley Systems’s dividend payout ratio (DPR) is currently 33.33%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BSY. Geneos Wealth Management Inc. increased its position in shares of Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Bentley Systems by 10.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,956 shares of the company’s stock valued at $606,000 after buying an additional 1,079 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Bentley Systems in the second quarter valued at about $590,000. Park Avenue Securities LLC purchased a new stake in Bentley Systems in the second quarter valued at about $323,000. Finally, GAMMA Investing LLC boosted its holdings in Bentley Systems by 114.5% in the second quarter. GAMMA Investing LLC now owns 1,053 shares of the company’s stock worth $57,000 after acquiring an additional 562 shares in 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.