Bentley Systems, Incorporated (NASDAQ:BSY) Receives Average “Moderate Buy” Rating from Brokerages
Shares of Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating) have earned an average rating of “moderate buy” from the ten analysts who currently cover the company, MarketBeat Ratings reports. One analyst rated the stock with a hold recommendation and four gave the company a buy recommendation. The average 1-year target price among analysts who have covered the stock over the past year is $47.63.
A number of research companies have recently published reports on BSY. TheStreet upgraded Bentley Systems from a “d+” to a “c-” rating in a Friday, August 12 report. Mizuho raised its target price on Bentley Systems from $45.00 to $46.00 and gave the company a “buy” rating in a Wednesday, August 10 report. Griffin Securities reissued a “hold” rating on Bentley Systems shares in a Wednesday, Aug. 10 report. Finally, Wolfe Research began covering Bentley Systems in a report on Tuesday, August 16. They issued an “outperform” rating and a target price of $48.00 on the stock.
Bentley Systems grew by 6.6%
BSY opened at $34.57 on Wednesday. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 111.52, a growth price-to-earnings ratio of 5.13, and a beta of 1.14. Bentley Systems has a 52-week low of $26.32 and a 52-week high of $62.37. The company’s 50-day moving average is $36.88 and its two-hundred-day moving average is $36.96. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt ratio of 3.67.
Bentley Systems (NASDAQ:BSY – Get Rating) last reported results on Tuesday, August 9. The company reported earnings per share (EPS) of $0.18 for the quarter, beating consensus analyst estimates of $0.13 by $0.05. The company posted revenue of $268.30 million for the quarter, versus analyst estimates of $269.10 million. Bentley Systems had a return on equity of 53.27% and a net margin of 9.48%. The company’s revenue for the quarter increased by 20.4% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.20. On average, research analysts expect Bentley Systems to post an EPS of 0.66 for the current year.
Bentley Systems dividend announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14. Investors of record on Thursday, September 8 received a dividend of $0.03 per share. This represents a dividend of $0.12 on an annualized basis and a yield of 0.35%. The ex-dividend date was Wednesday, September 7. Bentley Systems’ dividend payout ratio is currently 38.71%.
Insiders place their bets
In other Bentley Systems news, CEO Gregory S. Bentley sold 76,591 shares of the company in a trade on Monday, September 12. The stock was sold at an average price of $37.68, for a total transaction of $2,885,948.88. Following the sale, the CEO now directly owns 8,731,799 shares of the company, valued at $329,014,186.32. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. In other news, CEO Gregory S. Bentley sold 76,591 shares of the company in a trade on Monday, September 12. The stock was sold at an average price of $37.68, for a total value of $2,885,948.88. Following the sale, the CEO now directly owns 8,731,799 shares of the company, valued at $329,014,186.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CIO David J. Hollister sold 200,000 shares of the company in a trade on Wednesday, August 10. The shares were sold at an average price of $41.12, for a total value of $8,224,000.00. Following the completion of the sale, the executive now owns 2,105,519 shares of the company, valued at $86,578,941.28. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 476,591 shares of the company worth $18,793,163. 22.53% of the shares are held by company insiders.
Hedge funds weigh on Bentley Systems
Several institutional investors have recently increased or reduced their stake in BSY. Steward Partners Investment Advisory LLC acquired a new position in Bentley Systems in the first quarter worth $27,000. Whittier Trust Co. of Nevada Inc. increased its stake in Bentley Systems by 181.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 830 shares of the company valued at $28,000 after purchasing an additional 535 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Bentley Systems by 209.9% in the second quarter. First Horizon Advisors Inc. now owns 973 shares of the company valued at $32,000 after purchasing an additional 659 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in Bentley Systems in the second quarter worth $42,000. Finally, Schroder Investment Management Group increased its stake in Bentley Systems by 134.1% during the fourth quarter. Schroder Investment Management Group now owns 934 shares of the company worth $45,000 after acquiring 535 additional shares in the last quarter. 35.80% of the shares are currently held by institutional investors and hedge funds.
Bentley Systems Company Profile
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Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, Middle East, Africa and Asia-Pacific. The Company offers open modeling and simulation applications for infrastructure design integration, including MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS , CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep underground conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS and OpenGround.
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