Bentley Systems (NASDAQ:BSY) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Bentley Systems (NASDAQ:BSY) from a hold rating to a buy rating in a research report sent to investors on Sunday.

A number of other analysts also recently issued reports on BSY. The Goldman Sachs Group downgraded Bentley Systems from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Oppenheimer raised their target price on shares of Bentley Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Robert W. Baird cut their price target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Royal Bank Of Canada increased their price objective on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, Rosenblatt Securities dropped their target price on Bentley Systems from $62.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.00.

Bentley Systems Trading Up 1.4%

BSY stock opened at $52.55 on Friday. The firm has a market cap of $15.34 billion, a PE ratio of 66.52, a price-to-earnings-growth ratio of 4.35 and a beta of 1.07. The firm has a fifty day moving average price of $46.99 and a 200 day moving average price of $45.53. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.49 and a current ratio of 0.49. Bentley Systems has a fifty-two week low of $36.51 and a fifty-two week high of $52.68.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $370.54 million for the quarter, compared to the consensus estimate of $366.76 million. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. Sell-side analysts anticipate that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems’s dividend payout ratio (DPR) is currently 35.44%.

Insider Activity at Bentley Systems

In other news, Director Raymond B. Bentley sold 273,094 shares of the firm’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $50.30, for a total value of $13,736,628.20. Following the completion of the sale, the director now owns 15,719,227 shares of the company’s stock, valued at $790,677,118.10. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Brock Ballard sold 12,363 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the transaction, the executive now owns 68,064 shares in the company, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,012,363 shares of company stock valued at $50,872,826 over the last quarter. 20.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bentley Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSY. Intech Investment Management LLC raised its holdings in shares of Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock worth $340,000 after buying an additional 254 shares during the last quarter. Axxcess Wealth Management LLC increased its position in shares of Bentley Systems by 3.7% in the 1st quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company’s stock valued at $333,000 after acquiring an additional 301 shares during the period. Prentiss Smith & Co. Inc. increased its position in shares of Bentley Systems by 0.5% in the 1st quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company’s stock valued at $2,524,000 after acquiring an additional 315 shares during the period. Venturi Wealth Management LLC raised its stake in Bentley Systems by 3.5% in the 1st quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company’s stock worth $371,000 after acquiring an additional 315 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Bentley Systems by 3.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock worth $469,000 after acquiring an additional 317 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other 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.