Oppenheimer Upgrades Bentley Systems (NASDAQ:BSY) to Outperform

Oppenheimer upgraded shares of Bentley Systems (NASDAQ:BSY) from a market perform rating to an outperform rating in a research report released on Thursday morning, MarketBeat Ratings reports. They currently have $49.00 target price on the stock.

A number of other analysts have also commented on BSY. Piper Sandler lowered 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. JPMorgan Chase & Co. reduced their price target on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday. Robert W. Baird dropped their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a report on Tuesday, February 25th. Finally, UBS Group assumed coverage on Bentley Systems in a research report on Monday, March 31st. They set a “neutral” rating and a $48.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and an average target price of $53.67.

Bentley Systems Stock Up 0.7 %

Shares of NASDAQ:BSY opened at $41.90 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 37.75, a P/E/G ratio of 3.52 and a beta of 1.06. The company has a 50 day moving average of $43.04 and a 200-day moving average of $46.40. Bentley Systems has a one year low of $36.51 and a one year high of $57.19.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were issued a $0.07 dividend. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Wednesday, March 19th. Bentley Systems’s dividend payout ratio is 38.36%.

Insider Buying and Selling

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the sale, the director now owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 21.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Swedbank AB boosted its stake in shares of Bentley Systems by 36.5% during the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock worth $327,242,000 after buying an additional 1,873,029 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in Bentley Systems by 0.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company’s stock worth $262,209,000 after acquiring an additional 24,019 shares in the last quarter. Impax Asset Management Group plc boosted its position in Bentley Systems by 41.9% during the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock valued at $115,719,000 after purchasing an additional 736,369 shares during the last quarter. AXA S.A. grew its stake in Bentley Systems by 7.6% in the fourth quarter. AXA S.A. now owns 1,603,157 shares of the company’s stock valued at $74,867,000 after purchasing an additional 112,824 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Bentley Systems by 18.9% in the fourth quarter. Northern Trust Corp now owns 1,439,065 shares of the company’s stock valued at $67,204,000 after purchasing an additional 228,502 shares in the last quarter. 44.16% of the stock is currently owned by 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.