Weekly Investment Analysts’ Ratings Changes for Bentley Systems (BSY)

Bentley Systems (NASDAQ: BSY) recently received a number of ratings updates from brokerages and research firms:

• 3/1/2023 – Bentley Systems had its price target raised by analysts at KeyCorp from $45.00 to $47.00. They now have an “overweight” rating on the stock.
• 3/1/2023 – Bentley Systems had its price target raised by analysts at Oppenheimer Holdings Inc. from $48.00 to $50.00. They now have an “outperform” rating on the stock.
• 3/1/2023 – Bentley Systems had its price target raised by analysts at Royal Bank of Canada from $44.00 to $47.00. They now have an “outperform” rating on the stock.
• 2/28/2023 – Bentley Systems had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $39.00 price target on the stock.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $40.00 on Wednesday. The firm’s 50-day moving average price is $39.35 and its 200-day moving average price is $37.06. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 3.10. The company has a market cap of $11.15 billion, a PE ratio of 72.73, a PEG ratio of 7.12 and a beta of 1.19. Bentley Systems, Incorporated has a 52-week low of $26.32 and a 52-week high of $45.70.

Bentley Systems (NASDAQ:BSY – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $287.00 million for the quarter, compared to the consensus estimate of $280.85 million. Bentley Systems had a net margin of 15.90% and a return on equity of 41.48%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 EPS. As a group, analysts anticipate that Bentley Systems, Incorporated will post 0.65 EPS for the current year.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st were given a dividend of $0.05 per share. The ex-dividend date was Friday, February 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.50%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.03. Bentley Systems’s dividend payout ratio is presently 36.36%.

Insider Activity

In other news, Director Kirk B. Griswold sold 35,000 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $36.82, for a total transaction of $1,288,700.00. Following the completion of the sale, the director now owns 502,204 shares of the company’s stock, valued at approximately $18,491,151.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kirk B. Griswold sold 35,000 shares of Bentley Systems stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $36.82, for a total transaction of $1,288,700.00. Following the transaction, the director now directly owns 502,204 shares of the company’s stock, valued at approximately $18,491,151.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory S. Bentley sold 50,110 shares of Bentley Systems stock in a transaction dated Tuesday, January 24th. The shares were sold at an average price of $38.33, for a total value of $1,920,716.30. Following the transaction, the chief executive officer now directly owns 8,297,842 shares in the company, valued at $318,056,283.86. The disclosure for this sale can be found here. Insiders sold 90,822 shares of company stock valued at $3,443,608 in the last quarter. 22.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its position in shares of Bentley Systems by 42.3% during the fourth quarter. Pacer Advisors Inc. now owns 1,106 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares in the last quarter. CWM LLC grew its position in shares of Bentley Systems by 67.3% during the third quarter. CWM LLC now owns 885 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares in the last quarter. Commerce Bank grew its position in shares of Bentley Systems by 6.0% during the third quarter. Commerce Bank now owns 7,859 shares of the company’s stock worth $240,000 after purchasing an additional 443 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Bentley Systems by 28.7% in the first quarter. Lazard Asset Management LLC now owns 2,123 shares of the company’s stock worth $93,000 after buying an additional 473 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in shares of Bentley Systems by 2.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 20,172 shares of the company’s stock worth $746,000 after buying an additional 545 shares in the last quarter. 36.12% of the stock is owned by hedge funds and other institutional investors.

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.