Bentley Systems, Incorporated (NASDAQ:BSY) Raises Dividend to $0.07 Per Share

Bentley Systems, Incorporated (NASDAQ:BSY) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Wednesday, March 19th will be given a dividend of 0.07 per share on Thursday, March 27th. This represents a $0.28 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, March 19th. This is a 16.7% increase from Bentley Systems’s previous quarterly dividend of $0.06.

Bentley Systems has increased its dividend by an average of 26.0% annually over the last three years. Bentley Systems has a dividend payout ratio of 21.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Bentley Systems to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 27.7%.

Bentley Systems Stock Up 3.3 %

Shares of NASDAQ BSY opened at $41.44 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems has a 1 year low of $39.98 and a 1 year high of $57.19. The stock has a market capitalization of $12.08 billion, a P/E ratio of 37.33, a P/E/G ratio of 3.52 and a beta of 1.04. The company has a 50-day moving average price of $45.37 and a 200-day moving average price of $47.69.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the sale, the director now owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 21.12% of the company’s stock.

Analyst Ratings Changes

BSY has been the subject of a number of recent research reports. The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $51.00 to $42.00 in a report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Tuesday, February 25th. Robert W. Baird lowered their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Piper Sandler cut their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.14.

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 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.