Robert W. Baird Has Lowered Expectations for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY) had its target price decreased by Robert W. Baird from $60.00 to $59.00 in a research note issued to investors on Thursday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on BSY. Piper Sandler reduced their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Tuesday. Finally, Oppenheimer downgraded shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.29.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $44.04 on Thursday. The company has a 50 day moving average of $46.54 and a 200-day moving average of $48.33. The company has a market cap of $12.80 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems has a 1-year low of $43.75 and a 1-year high of $57.19.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.64%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, March 19th. Bentley Systems’s payout ratio is presently 21.62%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 69,573 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the sale, the director now owns 16,705,028 shares of the company’s stock, valued at approximately $779,623,656.76. This represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 21.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in Bentley Systems during the fourth quarter worth $75,000. Cache Advisors LLC acquired a new stake in Bentley Systems during the 4th quarter worth about $293,000. Voloridge Investment Management LLC raised its position in shares of Bentley Systems by 187.6% in the 4th quarter. Voloridge Investment Management LLC now owns 324,175 shares of the company’s stock worth $15,139,000 after acquiring an additional 211,476 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Bentley Systems by 10.9% in the 4th quarter. Woodline Partners LP now owns 435,267 shares of the company’s stock valued at $20,327,000 after purchasing an additional 42,931 shares during the period. Finally, Vident Advisory LLC lifted its stake in shares of Bentley Systems by 30.0% in the 4th quarter. Vident Advisory LLC now owns 10,235 shares of the company’s stock valued at $478,000 after purchasing an additional 2,360 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

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.