Bentley Systems’ (BSY) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Bentley Systems (NASDAQ:BSY) in a report issued on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a $58.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Robert W. Baird set a $64.00 price target on Bentley Systems and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, October 8th. UBS Group raised their target price on Bentley Systems from $53.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Oppenheimer upped their price target on shares of Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, Barclays assumed coverage on shares of Bentley Systems in a research note on Tuesday, October 7th. They issued an “equal weight” rating and a $57.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.73.

Bentley Systems Stock Performance

Shares of BSY stock opened at $46.71 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average price of $52.00 and a 200-day moving average price of $51.74. Bentley Systems has a 52 week low of $36.51 and a 52 week high of $59.25. The firm has a market capitalization of $13.64 billion, a PE ratio of 55.61, a P/E/G ratio of 3.77 and a beta of 1.12.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The company had revenue of $375.55 million for the quarter, compared to analysts’ expectations of $369.57 million. During the same quarter last year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities research analysts expect that Bentley Systems will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were given 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 of this dividend was Tuesday, September 23rd. Bentley Systems’s payout ratio is presently 33.33%.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in shares of Bentley Systems by 37.6% during the 2nd quarter. Allworth Financial LP now owns 702 shares of the company’s stock valued at $38,000 after buying an additional 192 shares in the last quarter. Thrive Wealth Management LLC increased its stake in Bentley Systems by 2.5% in the 3rd quarter. Thrive Wealth Management LLC now owns 8,301 shares of the company’s stock worth $427,000 after buying an additional 200 shares in the last quarter. Genesis Private Wealth LLC raised its holdings in Bentley Systems by 5.4% during the third quarter. Genesis Private Wealth LLC now owns 3,967 shares of the company’s stock valued at $204,000 after acquiring an additional 204 shares during the period. Blue Trust Inc. raised its holdings in Bentley Systems by 19.3% during the second quarter. Blue Trust Inc. now owns 1,305 shares of the company’s stock valued at $70,000 after acquiring an additional 211 shares during the period. Finally, Shell Asset Management Co. lifted its position in shares of Bentley Systems by 4.8% in the third quarter. Shell Asset Management Co. now owns 5,421 shares of the company’s stock valued at $279,000 after acquiring an additional 246 shares in 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.