Brokerages Set Bentley Systems, Incorporated (NASDAQ:BSY) Price Target at $47.69

Bentley Systems, Incorporated (NASDAQ:BSY – Get Free Report) has received a consensus rating of “Hold” from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $47.6923.

A number of research firms have weighed in on BSY. Barclays upped their price target on shares of Bentley Systems from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, March 6th. Oppenheimer dropped their price target on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Rosenblatt Securities dropped their price target on shares of Bentley Systems from $58.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. BMO Capital Markets reiterated an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Finally, Piper Sandler upgraded shares of Bentley Systems from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $42.00 to $45.00 in a research report on Friday, May 8th.

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Hedge Funds Weigh In On Bentley Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new position in shares of Bentley Systems during the fourth quarter worth $25,000. Geneos Wealth Management Inc. boosted its position in shares of Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares during the last quarter. Baillie Gifford & Co. bought a new position in shares of Bentley Systems during the third quarter worth $28,000. National Pension Service bought a new position in shares of Bentley Systems during the third quarter worth $28,000. Finally, Physician Wealth Advisors Inc. boosted its position in shares of Bentley Systems by 80.2% during the first quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock worth $28,000 after acquiring an additional 352 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $32.20 on Friday. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of 36.59, a price-to-earnings-growth ratio of 2.04 and a beta of 1.01. Bentley Systems has a 12-month low of $30.52 and a 12-month high of $59.25. The firm has a 50 day moving average of $33.94 and a 200 day moving average of $36.97. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91.

Bentley Systems (NASDAQ:BSY – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $424.18 million during the quarter, compared to analyst estimates of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The company’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. On average, research analysts anticipate that Bentley Systems will post 1.21 earnings per share for the current year.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 2nd. Bentley Systems’s dividend payout ratio is presently 31.82%.

About Bentley Systems

(Get Free Report)

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.

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