Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $936,155.00 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The sale was disclosed in a document filed with the SEC, which is available through this link.

Bentley Systems Trading Down 0.7 %

Shares of NASDAQ:BSY opened at $53.99 on Friday. The company has a market cap of $15.43 billion, a PE ratio of 54.54, a P/E/G ratio of 5.48 and a beta of 1.10. The company’s 50-day moving average price is $50.80 and its 200 day moving average price is $50.88. Bentley Systems, Incorporated has a fifty-two week low of $41.44 and a fifty-two week high of $55.37. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. Bentley Systems’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.13 EPS. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.82 earnings per share for the current year.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were given a $0.06 dividend. The ex-dividend date was Tuesday, March 19th. This is an increase from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.44%. Bentley Systems’s dividend payout ratio (DPR) is currently 24.24%.

Institutional Trading of Bentley Systems

Several hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System increased its stake in shares of Bentley Systems by 223.4% during the third quarter. California Public Employees Retirement System now owns 1,045,289 shares of the company’s stock valued at $52,432,000 after acquiring an additional 722,046 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Bentley Systems by 4.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock valued at $677,987,000 after buying an additional 578,512 shares during the period. Vanguard Group Inc. boosted its stake in Bentley Systems by 2.6% during the third quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after buying an additional 556,363 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Bentley Systems by 43.0% during the third quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock worth $54,656,000 after acquiring an additional 327,577 shares during the period. Finally, Norges Bank bought a new stake in Bentley Systems in the fourth quarter worth about $16,424,000. 44.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on BSY shares. Piper Sandler reissued an “overweight” rating and set a $60.00 price objective on shares of Bentley Systems in a report on Wednesday, February 28th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. William Blair started coverage on shares of Bentley Systems in a research report on Thursday, March 28th. They issued an “outperform” rating on the stock. Robert W. Baird raised their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Finally, Rosenblatt Securities upgraded shares of Bentley Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $54.00 to $60.00 in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.44.

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.