Bentley Systems (NASDAQ:BSY) Director Sells $23,235,000.00 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond Bentley sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $46.47, for a total transaction of $23,235,000.00. Following the completion of the sale, the director directly owned 13,816,404 shares of the company’s stock, valued at approximately $642,048,293.88. This represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bentley Systems Trading Down 1.8%

Bentley Systems stock opened at $44.44 on Thursday. The firm has a 50 day simple moving average of $36.12 and a 200-day simple moving average of $34.61. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $12.93 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 2.81 and a beta of 0.98. Bentley Systems, Incorporated has a 12-month low of $28.08 and a 12-month high of $48.17.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Bentley Systems had a net margin of 19.57% and a return on equity of 29.99%. The business had revenue of $421.51 million for the quarter, compared to analyst estimates of $420.69 million. During the same quarter last year, the business earned $0.27 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities research analysts expect that Bentley Systems, Incorporated will post 1.20 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 22nd. Bentley Systems’s payout ratio is currently 27.45%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. BMO Capital Markets boosted their target price on shares of Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Weiss Ratings raised shares of Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 19th. Oppenheimer lifted their price objective on shares of Bentley Systems from $43.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, November 6th. Cantor Fitzgerald boosted their target price on shares of Bentley Systems from $42.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. Finally, Royal Bank Of Canada boosted their target price on shares of Bentley Systems from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. Nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $46.67.

Hedge Funds Weigh In On Bentley Systems

A number of large investors have recently made changes to their positions in BSY. Wellington Management Group LLP purchased a new position in Bentley Systems during the second quarter valued at approximately $6,975,000. Groupe la Francaise increased its stake in Bentley Systems by 46.1% in the 2nd quarter. Groupe la Francaise now owns 159,678 shares of the company’s stock valued at $4,776,000 after buying an additional 50,412 shares during the period. SummitTX Capital L.P. increased its stake in Bentley Systems by 74.9% in the 1st quarter. SummitTX Capital L.P. now owns 104,520 shares of the company’s stock valued at $3,671,000 after buying an additional 44,774 shares during the period. Whetstone Capital Advisors LLC purchased a new stake in Bentley Systems in the 2nd quarter worth approximately $2,935,000. Finally, Bank of New York Mellon Corp purchased a new stake in Bentley Systems in the 2nd quarter worth approximately $78,738,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Company Profile

Bentley Systems develops software for professionals who design, build, and operate infrastructure. Its customers include engineering firms, architects, construction companies, and infrastructure owners and operators working on projects such as roads, railways, buildings, utilities, and industrial facilities. The company’s products support computer-aided design, project collaboration, infrastructure asset management, and digital twin development. Its software portfolio includes MicroStation for design and modeling, ProjectWise for project information management, and the iTwin platform for creating and working with digital representations of infrastructure assets.