Bentley Systems’ (BSY) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a research report released on Thursday,Benzinga reports. They currently have a $58.00 price objective on the stock.

A number of other equities analysts have also commented on the company. Piper Sandler cut their price objective on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday. The Goldman Sachs Group increased their target price on Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, October 8th. Barclays began coverage on shares of Bentley Systems in a research report on Tuesday, October 7th. They issued an “equal weight” rating and a $57.00 price objective for the company. Finally, Wall Street Zen lowered shares of Bentley Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.73.

Bentley Systems Stock Up 0.6%

Shares of NASDAQ BSY traded up $0.28 during mid-day trading on Thursday, hitting $46.71. The company had a trading volume of 3,004,547 shares, compared to its average volume of 1,694,158. The firm has a 50-day simple moving average of $52.17 and a two-hundred day simple moving average of $51.65. The company has a market capitalization of $13.64 billion, a PE ratio of 55.61, a price-to-earnings-growth ratio of 3.91 and a beta of 1.12. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. Bentley Systems has a one year low of $36.51 and a one year high of $59.25.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. Bentley Systems had a return on equity of 28.76% and a net margin of 18.45%.The company had revenue of $375.55 million during the quarter, compared to analysts’ expectations of $369.57 million. During the same period last year, the firm posted $0.24 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. On average, equities analysts expect that Bentley Systems will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, September 23rd. Bentley Systems’s payout ratio is currently 33.33%.

Institutional Investors Weigh In On Bentley Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. National Pension Service purchased a new position in Bentley Systems during the 3rd quarter valued at about $28,000. Baillie Gifford & Co. acquired a new stake in shares of Bentley Systems in the third quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its stake in Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares during the last quarter. Allworth Financial LP increased its position in shares of Bentley Systems by 37.6% during the second quarter. Allworth Financial LP now owns 702 shares of the company’s stock valued at $38,000 after acquiring an additional 192 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Bentley Systems by 682.8% in the 2nd quarter. Assetmark Inc. now owns 728 shares of the company’s stock valued at $39,000 after purchasing an additional 635 shares during 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.