Bentley Systems (NASDAQ:BSY) Price Target Raised to $49.00 at Barclays

Bentley Systems (NASDAQ:BSY) had its target price upped by Barclays from $47.00 to $49.00 in a report issued on Friday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities research analysts have also recently issued reports on BSY. JPMorgan Chase & Co. lowered their price objective on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Mizuho decreased their target price on Bentley Systems from $62.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, January 21st. Oppenheimer dropped their price target on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Finally, Royal Bank Of Canada reduced their price objective on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.50.

Bentley Systems Price Performance

NASDAQ:BSY traded up $0.28 during trading hours on Friday, reaching $39.79. 3,037,184 shares of the company were exchanged, compared to its average volume of 4,447,846. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.05. The firm has a market cap of $11.59 billion, a PE ratio of 46.27, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18. Bentley Systems has a twelve month low of $30.97 and a twelve month high of $59.25. The stock’s 50-day moving average is $36.68 and its 200-day moving average is $44.24.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, February 26th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. Bentley Systems had a net margin of 18.50% and a return on equity of 28.82%. The business had revenue of $391.58 million for the quarter, compared to analyst estimates of $381.79 million. During the same quarter last year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, March 10th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Bentley Systems’s dividend payout ratio (DPR) is currently 32.56%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Bentley Systems by 10.7% in the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock valued at $957,922,000 after buying an additional 1,792,591 shares during the period. Swedbank AB raised its position in Bentley Systems by 18.5% in the fourth quarter. Swedbank AB now owns 8,589,201 shares of the company’s stock valued at $327,807,000 after purchasing an additional 1,338,706 shares during the period. Geode Capital Management LLC raised its position in Bentley Systems by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 3,468,512 shares of the company’s stock valued at $132,060,000 after purchasing an additional 216,257 shares during the period. Bank of New York Mellon Corp lifted its stake in Bentley Systems by 8.9% during the 4th quarter. Bank of New York Mellon Corp now owns 3,185,756 shares of the company’s stock worth $121,584,000 after acquiring an additional 259,780 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Bentley Systems in the 3rd quarter valued at about $150,903,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

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.