Bentley Systems, Incorporated (NASDAQ:BSY) Receives $45.00 Consensus Price Target from Brokerages

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $45.00.

BSY has been the subject of several recent analyst reports. BNP Paribas Exane initiated coverage on shares of Bentley Systems in a report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price objective for the company. UBS Group dropped their target price on Bentley Systems from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Rosenblatt Securities restated a “buy” rating and issued a $50.00 target price on shares of Bentley Systems in a research report on Monday. BMO Capital Markets increased their price target on Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Zacks Research cut Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st.

Bentley Systems Stock Performance

BSY stock opened at $35.31 on Thursday. The company has a market capitalization of $10.26 billion, a P/E ratio of 38.80, a PEG ratio of 2.26 and a beta of 0.98. The company has a 50-day simple moving average of $32.14 and a 200 day simple moving average of $33.89. Bentley Systems has a fifty-two week low of $28.08 and a fifty-two week high of $57.25. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $410.73 million during the quarter, compared to analyst estimates of $412.12 million. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. Bentley Systems’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. Sell-side analysts predict that Bentley Systems will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 2nd. Bentley Systems’s payout ratio is presently 30.77%.

Hedge Funds Weigh In On Bentley Systems

Hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC acquired a new stake in Bentley Systems during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. grew its position in Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after buying an additional 627 shares during the last quarter. Physician Wealth Advisors Inc. increased its holdings in shares of Bentley Systems by 80.2% in the first quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after buying an additional 352 shares in the last quarter. CX Institutional increased its holdings in shares of Bentley Systems by 898.9% in the second quarter. CX Institutional now owns 939 shares of the company’s stock valued at $28,000 after buying an additional 845 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Bentley Systems during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

About Bentley Systems

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.