Barry J. Bentley Sells 50,000 Shares of Bentley Systems, Incorporated (NASDAQ:BSY) Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $49.44, for a total transaction of $2,472,000.00. Following the sale, the director now directly owns 12,098,235 shares of the company’s stock, valued at approximately $598,136,738.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $48.73 on Friday. The company’s fifty day moving average is $49.80 and its two-hundred day moving average is $50.50. The company has a market cap of $14.06 billion, a P/E ratio of 45.54, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36.

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

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio is currently 22.43%.

Wall Street Analysts Forecast Growth

BSY has been the topic of several research analyst reports. Piper Sandler restated an “overweight” rating and set a $63.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group cut their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Forsta AP Fonden increased its position in Bentley Systems by 45.0% in the 1st quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock worth $3,316,000 after purchasing an additional 19,700 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Bentley Systems in the 1st quarter valued at approximately $935,000. Vanguard Group Inc. increased its holdings in Bentley Systems by 0.6% in 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 last quarter. Cetera Advisors LLC bought a new position in Bentley Systems during the first quarter valued at approximately $608,000. Finally, Clearline Capital LP acquired a new stake in Bentley Systems in the second quarter valued at approximately $6,999,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

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.