Bentley Systems (NASDAQ:BSY) Rating Reiterated by Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a research note issued to investors on Monday, Benzinga reports. The firm currently has a $62.00 price target on the stock.

BSY has been the topic of a number of other reports. Royal Bank of Canada restated an outperform rating and set a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group decreased their target price on Bentley Systems from $57.00 to $50.00 and set a neutral rating on the stock in a research note on Wednesday, August 7th. Finally, Piper Sandler reaffirmed an overweight rating and issued a $63.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $59.57.

Bentley Systems Trading Up 1.6 %

Shares of BSY stock opened at $50.79 on Monday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36. Bentley Systems has a twelve month low of $43.82 and a twelve month high of $57.19. The company’s 50-day moving average price is $49.11 and its 200-day moving average price is $50.54. The stock has a market cap of $14.65 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 4.08 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. The business had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 EPS. As a group, equities analysts predict that Bentley Systems will post 0.9 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.24 annualized dividend and a dividend yield of 0.47%. Bentley Systems’s dividend payout ratio is currently 22.43%.

Insider Activity at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the transaction, the director now directly owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 21.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Bentley Systems by 4,618.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after buying an additional 508 shares during the period. GAMMA Investing LLC lifted its position in Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after acquiring an additional 273 shares during the period. Blue Trust Inc. grew its stake in shares of Bentley Systems by 68,500.0% in the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after purchasing an additional 685 shares during the last quarter. Tortoise Investment Management LLC grew its stake in shares of Bentley Systems by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after purchasing an additional 358 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Bentley Systems in the second quarter valued at approximately $43,000. Institutional investors and hedge funds 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.