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

Rosenblatt Securities restated their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a report issued on Tuesday morning,Benzinga reports. They currently have a $50.00 price objective on the stock.

A number of other analysts also recently weighed in on BSY. Cantor Fitzgerald lifted their price target on Bentley Systems from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. BMO Capital Markets increased their price objective on Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Weiss Ratings raised Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 19th. Finally, Piper Sandler restated an “overweight” rating and set a $45.00 target price on shares of Bentley Systems in a research report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and an average price target of $44.77.

Bentley Systems Trading Up 0.6%

NASDAQ BSY opened at $39.65 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $11.52 billion, a P/E ratio of 43.57, a P/E/G ratio of 2.46 and a beta of 0.99. Bentley Systems has a 52-week low of $28.08 and a 52-week high of $51.22. The firm has a 50-day moving average price of $34.89 and a 200 day moving average price of $34.39.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $410.73 million for the quarter, compared to analyst estimates of $412.12 million. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. Equities research analysts expect that Bentley Systems will post 1.21 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Bentley Systems’s payout ratio is 30.77%.

Insider Buying and Selling at Bentley Systems

In related news, Director Raymond Bentley sold 139,135 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $40.05, for a total value of $5,572,356.75. Following the completion of the transaction, the director directly owned 14,660,607 shares of the company’s stock, valued at $587,157,310.35. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Bentley Systems

A number of institutional investors have recently bought and sold shares of BSY. Wellington Management Group LLP acquired a new position in shares of Bentley Systems in the second quarter valued at approximately $6,975,000. Groupe la Francaise lifted its stake in shares of Bentley Systems by 46.1% during the second quarter. Groupe la Francaise now owns 159,678 shares of the company’s stock valued at $4,776,000 after buying an additional 50,412 shares during the period. SummitTX Capital L.P. boosted its position in Bentley Systems by 74.9% during the first quarter. SummitTX Capital L.P. now owns 104,520 shares of the company’s stock worth $3,671,000 after acquiring an additional 44,774 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Bentley Systems during the second quarter worth approximately $78,738,000. Finally, Whetstone Capital Advisors LLC purchased a new stake in Bentley Systems in the 2nd quarter worth approximately $2,935,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

About Bentley Systems

Bentley Systems, Incorporated is a software company that develops solutions for the design, construction, and operation of infrastructure. Its customers include engineers, architects, geospatial professionals, construction firms, and infrastructure owner-operators in sectors such as transportation, water, utilities, industrial facilities, and buildings.

The company’s product portfolio includes MicroStation for infrastructure design, ProjectWise for project collaboration, AssetWise for asset performance and operations, and SYNCHRO for construction management.