Brokerages Set Bentley Systems, Incorporated (NASDAQ:BSY) Target Price at $57.00

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have been given an average rating of “Moderate Buy” by the nine brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $56.14.

Several brokerages recently issued reports on BSY. Oppenheimer lowered shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday. JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target on the stock. Robert W. Baird decreased their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday. Piper Sandler dropped their target price on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group cut Bentley Systems from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $51.00 to $42.00 in a research note on Friday.

Bentley Systems Price Performance

BSY stock opened at $43.90 on Wednesday. Bentley Systems has a 52-week low of $42.46 and a 52-week high of $57.19. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The business has a fifty day moving average of $46.46 and a two-hundred day moving average of $48.30.

Bentley Systems Increases Dividend

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

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the sale, the director now directly owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 21.12% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

Large investors have recently modified their holdings of the company. Swedbank AB boosted its holdings in Bentley Systems by 24.2% in the third quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock valued at $260,874,000 after purchasing an additional 1,000,000 shares in the last quarter. Forsta AP Fonden increased its stake in Bentley Systems by 2.0% in the 3rd quarter. Forsta AP Fonden now owns 104,300 shares of the company’s stock valued at $5,299,000 after buying an additional 2,000 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Bentley Systems by 94.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,499 shares of the company’s stock worth $584,000 after acquiring an additional 5,596 shares during the period. Asahi Life Asset Management CO. LTD. raised its stake in shares of Bentley Systems by 20.8% during the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 7,210 shares of the company’s stock worth $366,000 after buying an additional 1,240 shares in the last quarter. Finally, Diversify Wealth Management LLC raised its position in Bentley Systems by 2.2% in the third quarter. Diversify Wealth Management LLC now owns 20,192 shares of the company’s stock worth $993,000 after acquiring an additional 428 shares in the last quarter. 44.16% of the stock is 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.