Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $1,692,321.19 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Barry J. Bentley sold 34,987 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the completion of the sale, the director now directly owns 12,213,248 shares in the company, valued at $590,754,805.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Bentley Systems Stock Up 1.0 %

Shares of Bentley Systems stock opened at $50.65 on Friday. The stock has a market capitalization of $14.72 billion, a price-to-earnings ratio of 44.43, a PEG ratio of 4.09 and a beta of 1.03. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36. The business’s 50 day simple moving average is $49.51 and its 200-day simple moving average is $50.54.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.08. The firm had revenue of $330.34 million for 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%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the company earned $0.20 earnings per share. Equities research analysts forecast that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Tuesday, September 17th. Bentley Systems’s payout ratio is 21.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Bentley Systems by 0.6% during the first quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after buying an additional 134,516 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Bentley Systems by 3.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock valued at $778,832,000 after purchasing an additional 586,458 shares during the period. Swedbank AB raised its stake in shares of Bentley Systems by 514.5% during the second quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock valued at $204,069,000 after purchasing an additional 3,461,500 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Bentley Systems by 41.8% in the third quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock worth $67,222,000 after purchasing an additional 390,000 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Bentley Systems by 7.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company’s stock valued at $60,839,000 after buying an additional 85,565 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

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