Brokerages Set Bentley Systems, Incorporated (NASDAQ:BSY) Price Target at $52.70

Bentley Systems, Incorporated (NASDAQ:BSY) has been given an average rating of “Moderate Buy” by the ten analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $52.70.

BSY has been the subject of a number of recent research reports. KeyCorp cut their price target on Bentley Systems from $63.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Mizuho dropped their price target on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Finally, Oppenheimer raised Bentley Systems from a “market perform” rating to an “outperform” rating and set a $49.00 price target for the company in a report on Thursday, April 10th.

Insider Buying and Selling

In other news, Director Keith A. Bentley sold 1,152 shares of the 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 transaction, the director now directly owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 21.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors have recently modified their holdings of the stock. City Holding Co. acquired a new stake in shares of Bentley Systems during the 1st quarter worth approximately $26,000. Fifth Third Bancorp grew its position in Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock valued at $33,000 after buying an additional 435 shares during the period. Private Trust Co. NA increased its holdings in Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after buying an additional 378 shares in the last quarter. Tobam purchased a new position in Bentley Systems in the fourth quarter valued at $55,000. Finally, Atala Financial Inc purchased a new stake in shares of Bentley Systems during the 4th quarter worth about $55,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

BSY opened at $43.19 on Thursday. The company’s 50-day simple moving average is $42.70 and its two-hundred day simple moving average is $46.14. 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 has a market capitalization of $12.58 billion, a P/E ratio of 38.91, a P/E/G ratio of 3.52 and a beta of 1.06. Bentley Systems has a 52-week low of $36.51 and a 52-week high of $57.19.

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 given a dividend of $0.07 per share. The ex-dividend date was Wednesday, March 19th. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.65%. Bentley Systems’s dividend payout ratio is presently 38.36%.

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.