Bentley Systems (NASDAQ:BSY) Stock Rating Reaffirmed by Rosenblatt Securities

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

A number of other research analysts also recently weighed in on the company. Piper Sandler reissued an overweight rating and issued a $60.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. Robert W. Baird raised their price target on Bentley Systems from $58.00 to $59.00 and gave the company an outperform rating in a research note on Tuesday, February 6th. Royal Bank of Canada restated an outperform rating and issued a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, February 28th. Finally, William Blair initiated coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They issued an outperform rating on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $58.44.

Bentley Systems Price Performance

Bentley Systems stock opened at $53.24 on Tuesday. The business has a 50 day simple moving average of $50.79 and a 200 day simple moving average of $50.88. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.55 and a quick ratio of 0.55. Bentley Systems has a one year low of $41.59 and a one year high of $55.37. The company has a market capitalization of $15.22 billion, a PE ratio of 53.78, a price-to-earnings-growth ratio of 5.18 and a beta of 1.08.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The company had revenue of $310.64 million during the quarter, compared to analyst estimates of $313.67 million. During the same period last year, the company posted $0.13 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that Bentley Systems will post 0.82 EPS for the current fiscal year.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were paid a $0.06 dividend. This is an increase from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Tuesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is presently 24.24%.

Insider Activity at Bentley Systems

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

Hedge Funds Weigh In On Bentley Systems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Bentley Systems in the 3rd quarter valued at approximately $354,000. Simplicity Solutions LLC raised its holdings in shares of Bentley Systems by 10.9% during the third quarter. Simplicity Solutions LLC now owns 4,522 shares of the company’s stock valued at $227,000 after acquiring an additional 445 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Bentley Systems by 36.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 41,487 shares of the company’s stock valued at $2,081,000 after acquiring an additional 11,012 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Bentley Systems by 17.1% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 70,613 shares of the company’s stock worth $3,542,000 after purchasing an additional 10,300 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Bentley Systems by 60.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 28,121 shares of the company’s stock worth $1,411,000 after purchasing an additional 10,545 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

About Bentley Systems

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.