Bentley Systems (NASDAQ:BSY) Price Target Cut to $40.00 by Analysts at Barclays

Bentley Systems (NASDAQ:BSY) had its target price reduced by Barclays from $49.00 to $40.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms also recently commented on BSY. Bank of America began coverage on Bentley Systems in a research note on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective on the stock. Oppenheimer lowered their price objective on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Rosenblatt Securities lowered their price objective on Bentley Systems from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Finally, Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $42.00 to $45.00 in a research report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Bentley Systems has a consensus rating of “Hold” and a consensus price target of $47.00.

Bentley Systems Stock Up 1.4%

Shares of BSY opened at $32.64 on Friday. The company has a market capitalization of $9.54 billion, a PE ratio of 37.09, a PEG ratio of 2.09 and a beta of 1.01. Bentley Systems has a 12 month low of $30.52 and a 12 month high of $59.25. The stock’s 50-day moving average price is $33.85 and its two-hundred day moving average price is $36.94. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The company had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. On average, analysts anticipate that Bentley Systems will post 1.19 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be paid a $0.07 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. Bentley Systems’s dividend payout ratio is presently 31.82%.

Institutional Investors Weigh In On Bentley Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. increased its stake in shares of Bentley Systems by 1,529.3% in the 1st 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. Invesco Ltd. increased its stake in shares of Bentley Systems by 2.6% in the 2nd quarter. Invesco Ltd. now owns 375,054 shares of the company’s stock worth $20,242,000 after purchasing an additional 9,557 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Bentley Systems by 97.5% in the 2nd quarter. First Trust Advisors LP now owns 160,644 shares of the company’s stock worth $8,670,000 after purchasing an additional 79,286 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of Bentley Systems in the 2nd quarter worth $212,000. Finally, Cresset Asset Management LLC purchased a new stake in shares of Bentley Systems in the 2nd quarter worth $248,000. 44.16% of the stock is currently owned by hedge funds and other 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.