A History of Outperforming Analyst Forecasts and Beating the Odds: Bentley Systems Incorporated (BSY)

Bentley Systems Incorporated (NASDAQ: BSY) stock jumped 0.60% on Wednesday to $38.31 against a previous-day closing price of $38.08. With 0.6 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.88 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $38.76 whereas the lowest price it dropped to was $37.41. The 52-week range on BSY shows that it touched its highest point at $52.49 and its lowest point at $26.32 during that stretch. It currently has a 1-year price target of $44.60. With its current market cap of 11.13 billion, BSY has annualized dividend of $0.12 while the current yield stands at 0.31%.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BSY was down-trending over the past week, with a drop of -2.77%, but this was up by 7.73% over a month. Three-month performance dropped to -1.34% while six-month performance rose 20.51%. The stock lost -25.87% in the past year, while it has lost -20.73% so far this year. A look at the trailing 12-month EPS for BSY yields 0.60 with Next year EPS estimates of 0.89. For the next quarter, that number is 0.18. This implies an EPS growth rate of -29.80% for this year and 6.84% for next year.

Float and Shares Shorts:

At present, 310.12 million BSY shares are outstanding with a float of 207.00 million shares on hand for trading. On Oct 13, 2022, short shares totaled 7.38 million, which was 2.56% higher than short shares on Sep 14, 2022. In addition to Mr. Gregory S. Bentley as the firm’s CEO, Pres & Chairman, Mr. Keith Arthur Bentley serves as its Founder, Exec. VP, CTO & Director.

Institutional Ownership:

Through their ownership of 36.45% of BSY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 31.34% of BSY, in contrast to 16.39% held by mutual funds. Shares owned by individuals account for 15.52%. As the largest shareholder in BSY with 7.08% of the stake, The Vanguard Group, Inc. holds 19,599,608 shares worth 19,599,608. A second-largest stockholder of BSY, Kayne Anderson Rudnick Investment, holds 12,061,158 shares, controlling over 4.36% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in BSY, holding 7,634,645 shares or 2.76% stake. With a 2.41% stake in BSY, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 6,667,021 shares are owned by the mutual fund manager. The Vanguard Mid Cap Index Fund, which owns about 1.87% of BSY stock, is the second-largest Mutual Fund holder. It holds 5,172,492 shares valued at 182.49 million. Vanguard Extended Market Index Fu holds 0.97% of the stake in BSY, owning 2,687,162 shares worth 94.8 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BSY since 11 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BSY analysts setting a high price target of $50.00 and a low target of $39.00, the average target price over the next 12 months is $44.60. Based on these targets, BSY could surge 30.51% to reach the target high and rise by 1.8% to reach the target low. Reaching the average price target will result in a growth of 16.42% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BSY will report FY 2022 earnings on 02/28/2023. Analysts have provided yearly estimates in a range of $0.85 being high and $0.81 being low. For BSY, this leads to a yearly average estimate of $0.83. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Bentley Systems Incorporated surprised analysts by $0.02 when it reported $0.19 EPS against a consensus estimate of $0.17. The surprise factor in the prior quarter was $0.05. Based on analyst estimates, the high estimate for the next quarter is $0.20 and the low estimate is $0.16. The average estimate for the next quarter is thus $0.18.

Dividends & Yield:

In terms of dividends, BSY has a current ratio of $0.12, which is $0.12 over the trailing 12-months. Dividend yield is another indicator that appeals to many investors, and BSY currently yields $0.31. In the past year, BSY’s dividend yield has been $0.31. Accordingly, BSY has a current buyback yield of $0.72. This was $0.72 for the TTM.

Summary of Insider Activity:

Insiders traded BSY stock several times over the past three months with 16 Buys and 11 Sells. In these transactions, 898,732 shares were bought while 545,460 shares were sold. The number of buy transactions has increased to 84 while that of sell transactions has risen to 53 over the past year. The total number of shares bought during that period was 2,494,623 while 2,632,260 shares were sold.

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