Bentley Systems, Incorporated (NASDAQ:BSY) Receives $45.54 Consensus Target Price from Analysts

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $45.5385.

Several research firms recently issued reports on BSY. Piper Sandler upgraded shares of Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $42.00 to $45.00 in a report on Friday, May 8th. Weiss Ratings upgraded Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 30th. Barclays lowered their price objective on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, May 29th. UBS Group dropped their price objective on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Finally, BNP Paribas Exane initiated coverage on Bentley Systems in a research report on Thursday, June 18th. They set an “outperform” rating and a $40.00 target price on the stock.

Bentley Systems Stock Performance

Shares of BSY stock opened at $31.15 on Friday. The stock has a market capitalization of $9.10 billion, a PE ratio of 35.40, a PEG ratio of 2.04 and a beta of 1.00. The business’s 50 day simple moving average is $31.74 and its 200 day simple moving average is $34.59. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51. Bentley Systems has a one year low of $28.08 and a one year high of $59.25.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. During the same quarter in the previous year, the company earned $0.35 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, research analysts forecast that Bentley Systems will post 1.2 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s payout ratio is presently 31.82%.

Hedge Funds Weigh In On Bentley Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its position in shares of Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after acquiring an additional 627 shares during the period. Invesco Ltd. increased its stake in Bentley Systems by 2.6% in the second quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock valued at $20,242,000 after purchasing an additional 9,557 shares in the last quarter. First Trust Advisors LP increased its stake in Bentley Systems by 97.5% in the second quarter. First Trust Advisors LP now owns 160,644 shares of the company’s stock valued at $8,670,000 after purchasing an additional 79,286 shares in the last quarter. Brown Advisory Inc. acquired a new position in shares of Bentley Systems during the second quarter valued at about $212,000. Finally, Cresset Asset Management LLC acquired a new position in shares of Bentley Systems during the second quarter valued at about $248,000. 44.16% of the stock is currently owned by institutional investors.

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.