Bentley Systems, Incorporated (NASDAQ:BSY) Major Shareholder Sells $12,156,300.48 in Stock


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Bentley Systems, Incorporated (NASDAQ:BSY) major shareholder Richard P. Bentley sold 238,921 shares of the firm’s stock in a transaction on Wednesday, April 21st. The stock was sold at an average price of $50.88, for a total value of $12,156,300.48. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

BSY traded down $0.54 on Thursday, reaching $50.40. 1,084,534 shares of the company traded hands, compared to its average volume of 669,493. The company has a debt-to-equity ratio of 82.19, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50 day moving average price is $46.62 and its 200-day moving average price is $41.69. Bentley Systems, Incorporated has a 52-week low of $27.00 and a 52-week high of $54.62.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Monday, March 1st. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The business had revenue of $219.60 million for the quarter, compared to analyst estimates of $212.80 million. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts expect that Bentley Systems, Incorporated will post 0.55 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 24th. Shareholders of record on Wednesday, March 10th were given a $0.03 dividend. The ex-dividend date was Tuesday, March 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.24%.

A number of equities analysts recently weighed in on the company. Zacks Investment Research upgraded Bentley Systems from a “sell” rating to a “hold” rating in a research report on Monday, March 8th. Mizuho boosted their price target on shares of Bentley Systems from $50.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, March 3rd. Finally, KeyCorp raised their price objective on shares of Bentley Systems from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $43.71.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSY. Allstate Corp increased its holdings in shares of Bentley Systems by 5.7% during the 4th quarter. Allstate Corp now owns 8,769 shares of the company’s stock valued at $356,000 after acquiring an additional 469 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in Bentley Systems during the third quarter valued at approximately $60,000. Graves Light Private Wealth Management Inc. acquired a new position in Bentley Systems during the fourth quarter valued at approximately $84,000. JPMorgan Chase & Co. boosted its holdings in shares of Bentley Systems by 0.4% during the 4th quarter. JPMorgan Chase & Co. now owns 581,614 shares of the company’s stock worth $23,561,000 after buying an additional 2,479 shares during the period. Finally, Morgan Stanley acquired a new position in Bentley Systems in the 3rd quarter valued at $176,000. Institutional investors own 4.85% of the company’s stock.

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenWindPower, OpenTower, STAAD and RAM, LEAP and RM, SACS, MOSES, PLAXIS, SITEOPS, AutoPIPE, and LumenRT.

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