Bentley Systems, Incorporated (NASDAQ:BSY) Expected to Post Quarterly Sales of $211.82 Million

Equities research analysts expect Bentley Systems, Incorporated (NASDAQ:BSY) to announce sales of $211.82 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Bentley Systems’ earnings. The highest sales estimate is $213.60 million and the lowest is $209.27 million. The business is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, August 10th.

According to Zacks, analysts expect that Bentley Systems will report full year sales of $906.03 million for the current financial year, with estimates ranging from $901.90 million to $912.30 million. For the next fiscal year, analysts forecast that the company will report sales of $986.26 million, with estimates ranging from $969.20 million to $1.00 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Bentley Systems.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Monday, May 10th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $222.00 million for the quarter, compared to analyst estimates of $214.26 million. The company’s revenue was up 14.0% on a year-over-year basis.

BSY has been the topic of several recent analyst reports. KeyCorp increased their target price on Bentley Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday. Mizuho raised their target price on shares of Bentley Systems from $53.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, June 14th. Zacks Investment Research raised shares of Bentley Systems from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Wednesday. Robert W. Baird boosted their price objective on shares of Bentley Systems from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Griffin Securities began coverage on Bentley Systems in a research report on Friday, July 16th. They issued a “neutral” rating and a $59.47 target price on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $53.61.

In related news, Director Barry J. Bentley sold 201,901 shares of the business’s stock in a transaction dated Monday, July 12th. The shares were sold at an average price of $63.78, for a total value of $12,877,245.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Richard P. Bentley sold 36,977 shares of the business’s stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $50.86, for a total transaction of $1,880,650.22. Following the sale, the insider now directly owns 634,226 shares of the company’s stock, valued at approximately $32,256,734.36. The disclosure for this sale can be found here. Insiders have sold 1,121,503 shares of company stock worth $62,500,837 over the last quarter. Company insiders own 24.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Northern Trust Corp bought a new position in Bentley Systems in the 4th quarter worth about $4,039,000. M&T Bank Corp bought a new position in Bentley Systems in the 4th quarter worth about $1,120,000. Credit Suisse AG acquired a new stake in shares of Bentley Systems in the 4th quarter worth approximately $5,753,000. The Manufacturers Life Insurance Company grew its holdings in shares of Bentley Systems by 380.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 325,454 shares of the company’s stock valued at $13,184,000 after buying an additional 257,764 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Bentley Systems during the fourth quarter valued at $374,000. 24.39% of the stock is owned by institutional investors and hedge funds.

Shares of BSY stock traded up $0.54 during mid-day trading on Friday, hitting $61.13. 27,321 shares of the company’s stock were exchanged, compared to its average volume of 1,827,492. The stock has a market capitalization of $16.21 billion and a PE ratio of 108.20. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.90. Bentley Systems has a fifty-two week low of $27.00 and a fifty-two week high of $67.00. The company has a 50-day simple moving average of $60.45.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 15th. Investors of record on Tuesday, June 8th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Monday, June 7th. Bentley Systems’s dividend payout ratio is currently 21.43%.

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenWindPower, OpenTower, STAAD and RAM, LEAP and RM, SACS, MOSES, PLAXIS, SITEOPS, AutoPIPE, and LumenRT.

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Earnings History and Estimates for Bentley Systems (NASDAQ:BSY)

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