Brokerages Set Bentley Systems, Incorporated (NASDAQ:BSY) Price Target at $53.00

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $53.00.

Several research firms have recently commented on BSY. Oppenheimer reduced their price target on Bentley Systems from $65.00 to $53.00 and set an “outperform” rating for the company in a research report on Tuesday, January 20th. Royal Bank Of Canada cut their target price on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Robert W. Baird set a $55.00 target price on shares of Bentley Systems in a report on Wednesday, January 7th. Piper Sandler decreased their price target on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, BMO Capital Markets initiated coverage on shares of Bentley Systems in a research report on Thursday, January 22nd. They issued an “outperform” rating and a $48.00 price objective on the stock.

Bentley Systems Stock Performance

Shares of NASDAQ:BSY opened at $33.28 on Wednesday. The firm has a 50 day moving average of $37.70 and a 200 day moving average of $45.74. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 39.62, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21. Bentley Systems has a 52 week low of $30.97 and a 52 week high of $59.25.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, December 4th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, December 4th. Bentley Systems’s dividend payout ratio (DPR) is 33.33%.

Institutional Trading of Bentley Systems

A number of institutional investors have recently made changes to their positions in BSY. Allworth Financial LP increased its position in 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 grew its stake in shares of Bentley Systems by 2.5% during the third quarter. Thrive Wealth Management LLC now owns 8,301 shares of the company’s stock worth $427,000 after acquiring an additional 200 shares during the last quarter. Genesis Private Wealth LLC grew its stake in shares of Bentley Systems by 5.4% during the third quarter. Genesis Private Wealth LLC now owns 3,967 shares of the company’s stock worth $204,000 after acquiring an additional 204 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of 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 in the last quarter. Finally, Shell Asset Management Co. raised its position in shares of Bentley Systems by 4.8% in the 3rd quarter. Shell Asset Management Co. now owns 5,421 shares of the company’s stock valued at $279,000 after purchasing an additional 246 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Company Profile

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.