Bentley Systems (NASDAQ:BSY) Sees Strong Trading Volume

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) saw unusually-strong trading volume on Tuesday . Approximately 680,737 shares were traded during trading, a decline of 36% from the previous session’s volume of 1,064,881 shares.The stock last traded at $47.21 and had previously closed at $47.55.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BSY shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. William Blair assumed coverage on Bentley Systems in a research note on Thursday, March 28th. They set an “outperform” rating on the stock. Piper Sandler restated an “overweight” rating and set a $60.00 price objective on shares of Bentley Systems in a report on Wednesday, February 28th. Rosenblatt Securities upgraded shares of Bentley Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $54.00 to $60.00 in a research note on Monday, February 26th. Finally, Robert W. Baird boosted their target price on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.44.

Bentley Systems Stock Performance

The company’s 50-day moving average price is $50.64 and its 200 day moving average price is $50.79. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $13.70 billion, a PE ratio of 47.65, a PEG ratio of 4.91 and a beta of 1.10.

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

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were given a dividend of $0.06 per share. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Tuesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is 24.24%.

Insider Activity at Bentley Systems

In other news, Director Keith A. Bentley sold 88,925 shares of Bentley Systems stock in a transaction that occurred on 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 completion of the sale, the director now directly 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 is accessible through this hyperlink. 22.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently made changes to their positions in BSY. LM Advisors LLC purchased a new position in shares of Bentley Systems in the fourth quarter worth $27,000. Private Trust Co. NA increased its position in 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 purchasing an additional 254 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Bentley Systems by 261.5% in the first quarter. Tower Research Capital LLC TRC now owns 658 shares of the company’s stock worth $28,000 after purchasing an additional 476 shares during the last quarter. Belpointe Asset Management LLC increased its position in Bentley Systems by 43.6% in the first quarter. Belpointe Asset Management LLC now owns 757 shares of the company’s stock worth $33,000 after purchasing an additional 230 shares during the last quarter. Finally, State of Wyoming increased its position in Bentley Systems by 6,393.8% during the fourth quarter. State of Wyoming now owns 1,039 shares of the company’s stock valued at $38,000 after acquiring an additional 1,023 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.