Keith A. Bentley Sells 69,573 Shares of Bentley Systems, Incorporated (NASDAQ:BSY) Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley sold 69,573 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the transaction, the director now owns 16,705,028 shares in the company, valued at $779,623,656.76. The trade was a 0.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Bentley Systems Price Performance

NASDAQ BSY opened at $46.42 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a market cap of $13.49 billion, a PE ratio of 41.82, a price-to-earnings-growth ratio of 4.04 and a beta of 1.04. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The firm’s 50-day simple moving average is $48.28 and its two-hundred day simple moving average is $48.97.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company had revenue of $335.17 million for the quarter, compared to analysts’ expectations of $340.36 million. During the same period in the prior year, the company posted $0.18 EPS. Bentley Systems’s revenue was up 9.3% compared to the same quarter last year. Research analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a yield of 0.52%. Bentley Systems’s dividend payout ratio is currently 21.62%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its holdings in Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after acquiring an additional 508 shares during the period. Point72 Hong Kong Ltd bought a new position in Bentley Systems in the 3rd quarter valued at $30,000. Central Pacific Bank Trust Division increased its holdings in shares of Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares during the period. Acadian Asset Management LLC bought a new position in shares of Bentley Systems in the second quarter worth $43,000. Finally, Andra AP fonden purchased a new stake in shares of Bentley Systems in the second quarter worth $54,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

BSY has been the topic of several research analyst reports. JPMorgan Chase & Co. started coverage on Bentley Systems in a research report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Friday, November 8th. Finally, Piper Sandler lifted their price objective on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.