KeyCorp Cuts Bentley Systems (NASDAQ:BSY) Price Target to $54.00

Bentley Systems (NASDAQ:BSY) had its price objective trimmed by KeyCorp from $63.00 to $54.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

BSY has been the topic of a number of other research reports. Piper Sandler dropped their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. UBS Group assumed coverage on shares of Bentley Systems in a report on Monday, March 31st. They issued a “neutral” rating and a $48.00 price target for the company. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $51.00 to $42.00 in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Finally, Mizuho dropped their target price on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.70.

Bentley Systems Stock Down 0.4 %

Shares of NASDAQ BSY opened at $43.19 on Wednesday. Bentley Systems has a 52-week low of $36.51 and a 52-week high of $57.19. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 3.52 and a beta of 1.06. The stock has a 50 day moving average price of $42.70 and a 200 day moving average price of $46.17. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a dividend of $0.07 per share. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.65%. Bentley Systems’s payout ratio is presently 38.36%.

Insider Activity

In other news, Director Keith A. Bentley sold 1,152 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the sale, the director now directly owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 21.12% of the company’s stock.

Institutional Trading of Bentley Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSY. City Holding Co. purchased a new position in shares of Bentley Systems during the first quarter worth $26,000. Fifth Third Bancorp grew its position in Bentley Systems by 106.6% during the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock worth $33,000 after purchasing an additional 435 shares during the period. Private Trust Co. NA raised its stake in shares of Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after buying an additional 378 shares during the last quarter. Tobam acquired a new position in shares of Bentley Systems in the 4th quarter valued at about $55,000. Finally, Atala Financial Inc purchased a new stake in shares of Bentley Systems in the fourth quarter worth about $55,000. 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.