Bentley Systems (NASDAQ:BSY) Earns “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a research report released on Tuesday morning,Benzinga reports. They currently have a $62.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective for the company. Piper Sandler cut their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.29.

Bentley Systems Stock Performance

Bentley Systems stock opened at $44.04 on Tuesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The stock’s 50 day simple moving average is $46.54 and its two-hundred day simple moving average is $48.33. Bentley Systems has a fifty-two week low of $43.75 and a fifty-two week high of $57.19. The stock has a market cap of $12.80 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 3.52 and a beta of 1.03.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.64%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, March 19th. Bentley Systems’s dividend payout ratio is currently 21.62%.

Insider Activity

In related news, Director Keith A. Bentley sold 69,573 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total value of $3,246,971.91. Following the sale, the director now directly owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. This represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new position in shares of Bentley Systems during the third quarter valued at approximately $30,000. Private Trust Co. NA raised its holdings in shares of Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after buying an additional 378 shares during the last quarter. Tobam purchased a new position in shares of Bentley Systems in the fourth quarter worth $55,000. Atala Financial Inc purchased a new position in shares of Bentley Systems in the fourth quarter worth $55,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Bentley Systems in the fourth quarter worth $75,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

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.