Bentley Systems (NASDAQ:BSY) Sees Strong Trading Volume

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) saw strong trading volume on Tuesday . 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.

Analyst Ratings Changes

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

Bentley Systems Trading Up 2.5 %

The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72. The firm has a market cap of $14.32 billion, a PE ratio of 50.62, a P/E/G ratio of 4.85 and a beta of 1.10. The company’s 50-day moving average is $50.57 and its 200 day moving average is $50.77.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $310.64 million during the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. As a group, sell-side analysts predict that Bentley Systems, Incorporated will post 0.82 EPS for the current year.

Bentley Systems Increases Dividend

The business also recently announced 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 an increase 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 yield of 0.48%. Bentley Systems’s dividend payout ratio is presently 24.24%.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the 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 owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 21.74% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Bentley Systems in the first quarter worth about $241,000. US Bancorp DE lifted its position in shares of Bentley Systems by 250.8% in the first quarter. US Bancorp DE now owns 4,806 shares of the company’s stock worth $213,000 after buying an additional 3,436 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Bentley Systems by 96.7% in the first quarter. HighTower Advisors LLC now owns 10,401 shares of the company’s stock worth $459,000 after buying an additional 5,114 shares during the last quarter. Citigroup Inc. lifted its position in shares of Bentley Systems by 31.2% in the first quarter. Citigroup Inc. now owns 71,746 shares of the company’s stock worth $3,170,000 after buying an additional 17,080 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Bentley Systems by 315.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,226 shares of the company’s stock worth $55,000 after buying an additional 931 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

About Bentley Systems

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.