Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $2,546,000.00 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $50.92, for a total value of $2,546,000.00. Following the sale, the director now directly owns 12,148,235 shares of the company’s stock, valued at $618,588,126.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Bentley Systems Trading Down 0.6 %

NASDAQ:BSY opened at $49.70 on Thursday. 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 firm has a 50-day simple moving average of $49.74 and a 200-day simple moving average of $50.50. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. The firm has a market cap of $14.34 billion, a P/E ratio of 46.45, a P/E/G ratio of 4.09 and a beta of 1.03.

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

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Tuesday, September 17th. Bentley Systems’s payout ratio is currently 22.43%.

Hedge Funds Weigh In On Bentley Systems

A number of large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in Bentley Systems by 4,618.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after purchasing an additional 508 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares in the last quarter. Blue Trust Inc. grew its stake in Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after buying an additional 685 shares during the last quarter. Central Pacific Bank Trust Division increased 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 buying an additional 276 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its position in Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after buying an additional 358 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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