Insider Selling: Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $2,447,500.00 in 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 28th. The stock was sold at an average price of $48.95, for a total value of $2,447,500.00. Following the completion of the sale, the director now directly owns 12,048,235 shares of the company’s stock, valued at $589,761,103.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bentley Systems Price Performance

Bentley Systems stock opened at $48.41 on Friday. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The business has a 50-day simple moving average of $49.64 and a 200 day simple moving average of $50.47. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. The stock has a market cap of $14.07 billion, a price-to-earnings ratio of 42.47, a PEG ratio of 4.14 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping 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 business had revenue of $330.34 million during the quarter, compared to analysts’ expectations of $325.20 million. During the same period in the previous year, the business earned $0.20 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. On average, research analysts forecast that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is currently 21.05%.

Institutional Investors Weigh In On Bentley Systems

Hedge funds have recently added to or reduced their stakes in the company. Forsta AP Fonden lifted its stake in Bentley Systems by 45.0% during the first 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 Bentley Systems during the first quarter worth about $935,000. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 134,516 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Bentley Systems during the third quarter worth about $59,400,000. Finally, Cetera Advisors LLC bought a new stake in Bentley Systems during the first quarter worth about $608,000. Institutional investors own 44.16% of the company’s stock.

Analyst Ratings Changes

BSY has been the subject of several recent research reports. The Goldman Sachs Group reduced their price target on 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 reiterated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research report on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research 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 research 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, the stock has an average rating of “Moderate Buy” and an average price target of $59.57.

Bentley Systems Company Profile

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.