Bentley Systems, Incorporated (NASDAQ:BSY) Director Barry J. Bentley Sells 50,000 Shares

Bentley Systems, Incorporated (NASDAQ:BSY) Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $49.44, for a total transaction of $2,472,000.00. Following the completion of the transaction, the director now owns 12,098,235 shares in the company, valued at $598,136,738.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Bentley Systems Trading Down 0.9 %

Shares of BSY opened at $48.73 on Friday. The stock has a fifty day moving average price of $49.80 and a two-hundred day moving average price of $50.50. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market cap of $14.06 billion, a price-to-earnings ratio of 45.54, a PEG ratio of 4.09 and a beta of 1.03. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The business had revenue of $330.34 million during the quarter, compared to analysts’ expectations of $325.20 million. During the same period in the previous year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts predict that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. Bentley Systems’s payout ratio is 22.43%.

Institutional Trading of Bentley Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position in Bentley Systems by 4,618.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after buying an additional 508 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Bentley Systems by 90.1% during the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after acquiring an additional 273 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Bentley Systems by 68,500.0% during the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after acquiring an additional 685 shares during the period. Central Pacific Bank Trust Division lifted its position in Bentley Systems by 57.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after purchasing an additional 276 shares during the period. Finally, Tortoise Investment Management LLC boosted its stake in shares of Bentley Systems by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after purchasing an additional 358 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BSY. The Goldman Sachs Group decreased their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Piper Sandler reiterated an “overweight” rating and set a $63.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.57.

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.