Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $3,246,971.91 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the sale, the director now owns 16,705,028 shares of the company’s stock, valued at approximately $779,623,656.76. The trade was a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Bentley Systems Trading Down 0.4 %

BSY stock traded down $0.20 during midday trading on Monday, hitting $46.87. The stock had a trading volume of 635,574 shares, compared to its average volume of 742,658. The firm has a market cap of $13.63 billion, a P/E ratio of 42.23, a price-to-earnings-growth ratio of 4.04 and a beta of 1.04. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19. The business has a fifty day moving average price of $48.38 and a two-hundred day moving average price of $49.04.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were issued a $0.06 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.51%. Bentley Systems’s dividend payout ratio is presently 21.62%.

Institutional Investors Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently made changes to their positions in BSY. Allspring Global Investments Holdings LLC grew 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 worth $26,000 after purchasing an additional 508 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Bentley Systems during the 3rd quarter valued at approximately $30,000. Central Pacific Bank Trust Division grew its position in shares of 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 acquiring an additional 276 shares during the period. Acadian Asset Management LLC bought a new position in shares of Bentley Systems during the 2nd quarter valued at approximately $43,000. Finally, Andra AP fonden bought a new position in shares of Bentley Systems during the 2nd quarter valued at approximately $54,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BSY. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Finally, Piper Sandler boosted their target price on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.43.

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.