Bentley Systems (NASDAQ:BSY) Hits New 52-Week High at $56.43

Shares of Bentley Systems, Incorporated (NASDAQ:BSYGet Free Report) hit a new 52-week high on Friday . The stock traded as high as $56.43 and last traded at $56.38, with a volume of 584865 shares traded. The stock had previously closed at $56.08.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Robert W. Baird raised their price objective 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. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. William Blair initiated coverage on Bentley Systems in a research report on Thursday, March 28th. They set an “outperform” rating on the stock. Mizuho increased their price objective on Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $60.00 price objective on shares of Bentley Systems in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Check Out Our Latest Stock Analysis on BSY

Bentley Systems Stock Performance

The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.53. The firm has a fifty day simple moving average of $51.78 and a 200-day simple moving average of $51.23. The company has a market cap of $16.29 billion, a PE ratio of 52.77, a price-to-earnings-growth ratio of 4.99 and a beta of 1.08.

Bentley Systems (NASDAQ:BSYGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. The firm had revenue of $310.64 million for the quarter, compared to analyst estimates of $313.67 million. During the same quarter last year, the company posted $0.13 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. On average, research analysts forecast that Bentley Systems, Incorporated will post 0.85 EPS for the current fiscal year.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Tuesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.05. Bentley Systems’s payout ratio is currently 22.43%.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems 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 completion of the transaction, the director now directly owns 17,150,752 shares in the company, 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. In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the sale, the director now directly owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith A. Bentley sold 118,949 shares of Bentley Systems stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total transaction of $6,543,384.49. Following the completion of the sale, the director now directly owns 17,031,803 shares of the company’s stock, valued at $936,919,483.03. The disclosure for this sale can be found here. Insiders sold 284,315 shares of company stock worth $15,148,243 in the last ninety days. Insiders own 21.12% of the company’s stock.

Institutional Trading of Bentley Systems

Institutional investors have recently made changes to their positions in the stock. Private Trust Co. NA grew its stake in shares of Bentley Systems by 87.3% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after buying an additional 254 shares during the period. Fifth Third Bancorp boosted its position in Bentley Systems by 97.4% during the 4th quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock worth $39,000 after purchasing an additional 371 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Bentley Systems by 496.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 900 shares of the company’s stock worth $47,000 after purchasing an additional 749 shares during the period. Van ECK Associates Corp purchased a new stake in Bentley Systems during the 4th quarter worth $72,000. Finally, Principal Securities Inc. purchased a new stake in Bentley Systems during the 4th quarter worth $73,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Company Profile

(Get Free Report)

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.

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