Bentley Systems, Incorporated to Issue Quarterly Dividend of $0.05 (NASDAQ:BSY)

Bentley Systems, Incorporated (NASDAQ:BSY) declared a quarterly dividend on Friday, November 17th, Zacks reports. Investors of record on Monday, December 4th will be paid a dividend of 0.05 per share on Thursday, December 14th. This represents a $0.20 annualized dividend and a yield of 0.38%. The ex-dividend date is Friday, December 1st.

Bentley Systems has a dividend payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bentley Systems to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 25.3%.

Bentley Systems Trading Down 0.4 %

Shares of BSY stock opened at $52.89 on Friday. Bentley Systems has a fifty-two week low of $33.75 and a fifty-two week high of $55.37. The stock has a market capitalization of $15.04 billion, a P/E ratio of 99.79, a P/E/G ratio of 6.34 and a beta of 1.18. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 2.28. The stock has a 50-day simple moving average of $50.47 and a 200 day simple moving average of $50.04.

Insider Transactions at Bentley Systems

In other news, insider Michael M. Campbell sold 14,934 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $49.81, for a total transaction of $743,862.54. Following the completion of the sale, the insider now directly owns 70,063 shares of the company’s stock, valued at approximately $3,489,838.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Michael M. Campbell sold 14,934 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $49.81, for a total transaction of $743,862.54. Following the transaction, the insider now owns 70,063 shares of the company’s stock, valued at approximately $3,489,838.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory S. Bentley sold 79,337 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $50.16, for a total value of $3,979,543.92. Following the transaction, the chief executive officer now directly owns 7,738,312 shares in the company, valued at approximately $388,153,729.92. The disclosure for this sale can be found here. Insiders sold 215,086 shares of company stock valued at $10,592,409 in the last three months. Corporate insiders own 21.74% of the company’s stock.

Institutional Trading of Bentley Systems

A number of hedge funds have recently modified their holdings of the company. Belpointe Asset Management LLC lifted its position in shares of Bentley Systems by 43.6% during the 1st quarter. Belpointe Asset Management LLC now owns 757 shares of the company’s stock worth $33,000 after buying an additional 230 shares during the period. Toroso Investments LLC lifted its position in shares of Bentley Systems by 7.7% during the 3rd quarter. Toroso Investments LLC now owns 4,051 shares of the company’s stock worth $203,000 after buying an additional 290 shares during the period. Benjamin Edwards Inc. raised its position in Bentley Systems by 59.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,241 shares of the company’s stock valued at $67,000 after purchasing an additional 465 shares during the last quarter. Lazard Asset Management LLC raised its position in Bentley Systems by 28.7% in the 1st quarter. Lazard Asset Management LLC now owns 2,123 shares of the company’s stock valued at $93,000 after purchasing an additional 473 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Bentley Systems by 261.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 658 shares of the company’s stock valued at $28,000 after purchasing an additional 476 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BSY shares. Rosenblatt Securities reaffirmed a “neutral” rating and set a $47.00 target price on shares of Bentley Systems in a report on Tuesday, August 8th. KeyCorp upped their target price on Bentley Systems from $61.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, November 8th. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 target price on shares of Bentley Systems in a report on Wednesday, November 8th. Royal Bank of Canada upped their target price on Bentley Systems from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th. Finally, Wolfe Research downgraded Bentley Systems from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.00.

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 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.