Bentley Systems (NASDAQ:BSY) Director Sells $666,480.00 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond Bentley sold 16,662 shares of the company’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $40.00, for a total transaction of $666,480.00. Following the sale, the director directly owned 14,799,742 shares in the company, valued at approximately $591,989,680. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $39.65 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $11.52 billion, a PE ratio of 43.57, a P/E/G ratio of 2.46 and a beta of 0.99. Bentley Systems, Incorporated has a twelve month low of $28.08 and a twelve month high of $51.22. The company has a 50-day moving average price of $34.89 and a two-hundred day moving average price of $34.39.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $410.73 million during the quarter, compared to the consensus estimate of $412.12 million. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. Equities analysts forecast that Bentley Systems, Incorporated will post 1.21 EPS for the current year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, September 22nd. Bentley Systems’s payout ratio is currently 30.77%.

Analyst Ratings Changes

A number of brokerages have issued reports on BSY. Cantor Fitzgerald boosted their target price on shares of Bentley Systems from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, October 16th. Weiss Ratings raised Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $50.00 price target on shares of Bentley Systems in a research report on Tuesday. Piper Sandler reiterated an “overweight” rating and set a $45.00 price objective on shares of Bentley Systems in a research note on Friday, August 7th. Finally, BMO Capital Markets increased their price objective on Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.77.

Hedge Funds Weigh In On Bentley Systems

A number of large investors have recently modified their holdings of the company. Childress Capital Advisors LLC bought a new stake in Bentley Systems during the 3rd quarter worth approximately $295,000. Robeco Schweiz AG lifted its stake in Bentley Systems by 66.3% in the 3rd quarter. Robeco Schweiz AG now owns 758,586 shares of the company’s stock worth $24,237,000 after purchasing an additional 302,346 shares in the last quarter. Middleton & Co. Inc. MA boosted its holdings in Bentley Systems by 12.8% in the 3rd quarter. Middleton & Co. Inc. MA now owns 20,977 shares of the company’s stock valued at $670,000 after purchasing an additional 2,382 shares during the period. Yousif Capital Management LLC boosted its holdings in Bentley Systems by 0.7% in the 3rd quarter. Yousif Capital Management LLC now owns 41,229 shares of the company’s stock valued at $1,317,000 after purchasing an additional 298 shares during the period. Finally, Vest Financial LLC grew its position in shares of Bentley Systems by 10.2% during the 3rd quarter. Vest Financial LLC now owns 20,988 shares of the company’s stock valued at $671,000 after purchasing an additional 1,937 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

About Bentley Systems

Bentley Systems, Incorporated is a software company that develops solutions for the design, construction, and operation of infrastructure. Its customers include engineers, architects, geospatial professionals, construction firms, and infrastructure owner-operators in sectors such as transportation, water, utilities, industrial facilities, and buildings.

The company’s product portfolio includes MicroStation for infrastructure design, ProjectWise for project collaboration, AssetWise for asset performance and operations, and SYNCHRO for construction management.