Bentley Systems’ (BSY) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a research report released on Tuesday, Benzinga reports. Rosenblatt Securities currently has a $60.00 price target on the stock.

Other research analysts have also issued reports about the company. William Blair initiated coverage on Bentley Systems in a research report on Thursday, March 28th. They issued an outperform rating for the company. Robert W. Baird boosted their price target on Bentley Systems from $58.00 to $59.00 and gave the stock an outperform rating in a research report on Tuesday, February 6th. Piper Sandler reissued an overweight rating and issued a $60.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $58.44.

Bentley Systems Trading Down 1.9 %

BSY opened at $52.53 on Tuesday. The stock’s fifty day moving average is $50.81 and its two-hundred day moving average is $50.86. The company has a market capitalization of $15.01 billion, a P/E ratio of 53.06, a PEG ratio of 5.44 and a beta of 1.10. Bentley Systems has a 52 week low of $41.44 and a 52 week high of $55.37. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. Bentley Systems’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. Analysts forecast that Bentley Systems will post 0.82 earnings per share for the current year.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.46%. This is an increase from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 19th. Bentley Systems’s payout ratio is 24.24%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the sale, the director now owns 17,150,752 shares in the company, valued at approximately $943,291,360. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Keith A. Bentley sold 88,925 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $49.48, for a total value of $4,400,009.00. Following the sale, the director now owns 17,164,179 shares in the company, valued at $849,283,576.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith A. Bentley sold 17,021 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the sale, the director now owns 17,150,752 shares in the company, valued at approximately $943,291,360. The disclosure for this sale can be found here. Company insiders own 21.12% of the company’s stock.

Institutional Trading of Bentley Systems

A number of hedge funds have recently modified their holdings of BSY. Private Trust Co. NA boosted its stake in shares of Bentley Systems by 87.3% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $28,000 after buying an additional 254 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Bentley Systems by 97.4% in the fourth quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock worth $39,000 after buying an additional 371 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Bentley Systems by 496.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 900 shares of the company’s stock worth $47,000 after buying an additional 749 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Bentley Systems in the fourth quarter worth about $72,000. Finally, Global Retirement Partners LLC boosted its stake in shares of Bentley Systems by 439.4% in the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the company’s stock worth $73,000 after buying an additional 1,226 shares during the last quarter. Hedge funds and other institutional investors 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.