Mizuho Boosts Bentley Systems (NASDAQ:BSY) Price Target to $60.00

Bentley Systems (NASDAQ:BSY) had its target price raised by Mizuho from $57.00 to $60.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on BSY. Rosenblatt Securities reaffirmed a buy rating and issued a $60.00 price target on shares of Bentley Systems in a research report on Tuesday, April 30th. Royal Bank of Canada restated an outperform rating and set a $61.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. William Blair started coverage on Bentley Systems in a report on Thursday, March 28th. They issued an outperform rating on the stock. Piper Sandler restated an overweight rating and set a $60.00 price objective on shares of Bentley Systems in a research note on Wednesday, February 28th. Finally, Robert W. Baird lifted their target price on Bentley Systems from $58.00 to $59.00 and gave the company an outperform rating in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $59.33.

Bentley Systems Trading Down 1.0 %

BSY opened at $54.36 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72. The stock’s fifty day moving average is $50.94 and its two-hundred day moving average is $50.89. The company has a market capitalization of $15.54 billion, a P/E ratio of 54.91, a PEG ratio of 5.36 and a beta of 1.08. Bentley Systems has a 52 week low of $42.11 and a 52 week high of $55.37.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The firm had revenue of $310.64 million for the quarter, compared to analyst estimates of $313.67 million. During the same quarter last year, the firm posted $0.13 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts forecast that Bentley Systems will post 0.82 earnings per share for the current year.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, March 19th. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. This is an increase from Bentley Systems’s previous quarterly dividend of $0.05. Bentley Systems’s dividend payout ratio is 24.24%.

Insider Buying and Selling

In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the sale, the director now owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Keith A. Bentley sold 88,925 shares of Bentley Systems stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the completion of the sale, the director now owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the transaction, the director now owns 17,150,752 shares in the company, valued at approximately $943,291,360. The disclosure for this sale can be found here. 21.12% of the stock is owned by company insiders.

Institutional Trading of Bentley Systems

Several institutional investors and hedge funds have recently bought and sold shares of BSY. California Public Employees Retirement System grew its holdings in Bentley Systems by 223.4% during the third 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 period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Bentley Systems by 4.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock valued at $677,987,000 after purchasing an additional 578,512 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Bentley Systems by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after purchasing an additional 556,363 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Bentley Systems by 43.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock valued at $54,656,000 after purchasing an additional 327,577 shares during the period. Finally, Norges Bank purchased a new stake in Bentley Systems during the fourth quarter worth $16,424,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

About Bentley Systems

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 engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.