Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $2,472,000.00 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Barry J. Bentley sold 50,000 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $49.44, for a total value of $2,472,000.00. Following the sale, the director now owns 12,098,235 shares of the company’s stock, valued at $598,136,738.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Bentley Systems Stock Performance

NASDAQ BSY opened at $49.15 on Friday. The stock has a market capitalization of $14.18 billion, a PE ratio of 45.93, a P/E/G ratio of 4.09 and a beta of 1.03. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. The business has a 50 day simple moving average of $49.75 and a two-hundred day simple moving average of $50.48. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. The firm had revenue of $330.34 million during the quarter, compared to analysts’ expectations of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS. On average, research analysts predict that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is 22.43%.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Diversify Wealth Management LLC boosted its holdings in shares of Bentley Systems by 2.2% in the 3rd quarter. Diversify Wealth Management LLC now owns 20,192 shares of the company’s stock worth $993,000 after purchasing an additional 428 shares during the period. Asahi Life Asset Management CO. LTD. boosted its holdings in shares of Bentley Systems by 20.8% in the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 7,210 shares of the company’s stock worth $366,000 after purchasing an additional 1,240 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in shares of Bentley Systems by 1.5% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock worth $779,000 after purchasing an additional 220 shares during the period. First Bank & Trust lifted its stake in shares of Bentley Systems by 10.5% during the 3rd quarter. First Bank & Trust now owns 6,852 shares of the company’s stock worth $348,000 after acquiring an additional 649 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Bentley Systems by 94.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,499 shares of the company’s stock worth $584,000 after acquiring an additional 5,596 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. The Goldman Sachs Group cut their target price 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. Piper Sandler restated an “overweight” rating and set a $63.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and an average target price 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.