Recent Research Analysts’ Ratings Changes for Bentley Systems (BSY)

Posted by MarketBeat News on Nov 20th, 2023

A number of research firms have changed their ratings and price targets for Bentley Systems (NASDAQ: BSY):

11/8/2023 – Bentley Systems had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $60.00 price target on the stock.
11/8/2023 – Bentley Systems had its price target raised by analysts at KeyCorp from $61.00 to $62.00. They now have an “overweight” rating on the stock.
11/8/2023 – Bentley Systems had its price target raised by analysts at Royal Bank of Canada from $59.00 to $61.00. They now have an “outperform” rating on the stock.
11/7/2023 – Bentley Systems was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating.

Bentley Systems Price Performance

Shares of Bentley Systems stock traded up $0.11 during trading on Monday, hitting $53.00. The stock had a trading volume of 903,906 shares, compared to its average volume of 876,421. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of 100.00, a P/E/G ratio of 6.34 and a beta of 1.18. Bentley Systems, Incorporated has a 12 month low of $33.75 and a 12 month high of $55.37. The business’s 50-day moving average is $50.47 and its 200 day moving average is $50.16. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 2.28.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, December 4th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.20 annualized dividend and a yield of 0.38%. Bentley Systems’s dividend payout ratio (DPR) is presently 37.74%.

Insider Buying and Selling

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In other Bentley Systems news, CEO Gregory S. Bentley sold 67,313 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $48.45, for a total transaction of $3,261,314.85. Following the completion of the sale, the chief executive officer now directly owns 7,526,387 shares in the company, valued at $364,653,450.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Bentley Systems news, insider Michael M. Campbell sold 14,934 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were 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 in the company, valued at $3,489,838.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gregory S. Bentley sold 67,313 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $48.45, for a total transaction of $3,261,314.85. Following the sale, the chief executive officer now owns 7,526,387 shares of the company’s stock, valued at $364,653,450.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,086 shares of company stock worth $10,592,409. Corporate insiders own 21.74% of the company’s stock.

Institutional Trading of Bentley Systems

Several institutional investors and hedge funds have recently bought and sold shares of BSY. Norges Bank purchased a new position in shares of Bentley Systems during the fourth quarter valued at approximately $58,006,000. Artisan Partners Limited Partnership raised its holdings in Bentley Systems by 34.5% in the 1st quarter. Artisan Partners Limited Partnership now owns 5,248,518 shares of the company’s stock worth $225,634,000 after acquiring an additional 1,345,513 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Bentley Systems by 1,170.6% in the 2nd quarter. Alliancebernstein L.P. now owns 1,031,012 shares of the company’s stock worth $55,912,000 after acquiring an additional 949,869 shares during the last quarter. Baird Financial Group Inc. purchased a new position in Bentley Systems in the 2nd quarter worth approximately $39,611,000. Finally, California Public Employees Retirement System raised its holdings in Bentley Systems by 223.4% in the 3rd quarter. California Public Employees Retirement System now owns 1,045,289 shares of the company’s stock worth $52,432,000 after acquiring an additional 722,046 shares during the last quarter. 44.16% of the stock is currently 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.