Bentley Systems (NASDAQ:BSY) Price Target Raised to $60.00 at Mizuho

Bentley Systems (NASDAQ:BSY) had its price target raised by Mizuho from $57.00 to $60.00 in a research note published on Wednesday, Benzinga reports. Mizuho currently has a buy rating on the stock.

BSY has been the subject of several other reports. Royal Bank of Canada reiterated an outperform rating and issued a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, February 28th. Robert W. Baird increased their price objective on Bentley Systems from $58.00 to $59.00 and gave the company an outperform rating in a research report on Tuesday, February 6th. Rosenblatt Securities restated a buy rating and issued a $60.00 target price on shares of Bentley Systems in a research report on Tuesday, April 30th. Piper Sandler reiterated an overweight rating and set a $60.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. Finally, William Blair assumed coverage on shares of Bentley Systems in a report on Thursday, March 28th. They issued an outperform rating for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Bentley Systems currently has an average rating of Moderate Buy and a consensus price target of $59.33.

Bentley Systems Stock Performance

NASDAQ BSY opened at $54.36 on Wednesday. The firm has a market cap of $15.54 billion, a P/E ratio of 54.91, a price-to-earnings-growth ratio of 5.36 and a beta of 1.08. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72. The company’s 50 day moving average is $50.94 and its 200-day moving average is $50.89. Bentley Systems has a 12-month low of $42.11 and a 12-month high of $55.37.

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

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were given a $0.06 dividend. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.44%. Bentley Systems’s payout ratio is presently 24.24%.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 17,021 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction dated Tuesday, April 23rd. The shares were 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 of the company’s stock, valued at approximately $943,291,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Bentley sold 88,925 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the completion of the transaction, the director now directly owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds have recently made changes to their positions in the company. M&T Bank Corp increased its stake in shares of Bentley Systems by 0.4% during the third quarter. M&T Bank Corp now owns 57,456 shares of the company’s stock valued at $2,882,000 after purchasing an additional 218 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of Bentley Systems by 1.9% in the third quarter. Wealthfront Advisers LLC now owns 12,108 shares of the company’s stock worth $607,000 after acquiring an additional 228 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Bentley Systems by 87.3% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after acquiring an additional 254 shares in the last quarter. MJP Associates Inc. ADV raised its position in shares of Bentley Systems by 3.9% in the 4th quarter. MJP Associates Inc. ADV now owns 7,346 shares of the company’s stock worth $383,000 after purchasing an additional 277 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its stake in Bentley Systems by 2.8% in the 4th quarter. Portside Wealth Group LLC now owns 11,412 shares of the company’s stock worth $595,000 after purchasing an additional 308 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

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.