Bentley Systems (NASDAQ:BSY) Director Sells 139,135 Shares of Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond Bentley sold 139,135 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $40.05, for a total value of $5,572,356.75. Following the sale, the director owned 14,660,607 shares of the company’s stock, valued at approximately $587,157,310.35. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bentley Systems Price Performance

Shares of Bentley Systems stock traded down $0.52 during mid-day trading on Tuesday, reaching $39.32. 1,745,062 shares of the stock traded hands, compared to its average volume of 2,835,620. The business has a 50-day moving average of $34.63 and a 200 day moving average of $34.40. Bentley Systems, Incorporated has a fifty-two week low of $28.08 and a fifty-two week high of $52.24. The stock has a market capitalization of $11.43 billion, a PE ratio of 43.21, a PEG ratio of 2.48 and a beta of 0.99. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $410.73 million for the quarter, compared to analyst estimates of $412.12 million. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. On average, analysts predict that Bentley Systems, Incorporated will post 1.21 EPS for the current year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 22nd. Bentley Systems’s dividend payout ratio is currently 30.77%.

Institutional Investors Weigh In On Bentley Systems

A number of large investors have recently made changes to their positions in BSY. Swedbank AB increased its holdings in shares of Bentley Systems by 4.8% in the first quarter. Swedbank AB now owns 9,000,000 shares of the company’s stock valued at $316,080,000 after purchasing an additional 410,799 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Bentley Systems by 253.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock worth $167,924,000 after buying an additional 3,429,087 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Bentley Systems by 150.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company’s stock valued at $163,703,000 after buying an additional 2,803,241 shares in the last quarter. Bessemer Group Inc. grew its holdings in Bentley Systems by 36.2% in the 1st quarter. Bessemer Group Inc. now owns 2,600,241 shares of the company’s stock valued at $91,320,000 after buying an additional 691,806 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Bentley Systems in the 2nd quarter valued at $78,738,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BSY shares. Cantor Fitzgerald lifted their target price on shares of Bentley Systems from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, October 16th. BMO Capital Markets upped their target price on shares of Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Piper Sandler reiterated an “overweight” rating and issued a $45.00 target price on shares of Bentley Systems in a research report on Friday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $50.00 price target on shares of Bentley Systems in a research note on Tuesday. Finally, Weiss Ratings upgraded shares of Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 19th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Moderate Buy” and an average target price of $44.77.

About Bentley Systems

Bentley Systems, Incorporated is a software company that develops solutions for the design, construction, and operation of infrastructure. Its customers include engineers, architects, geospatial professionals, construction firms, and infrastructure owner-operators in sectors such as transportation, water, utilities, industrial facilities, and buildings.

The company’s product portfolio includes MicroStation for infrastructure design, ProjectWise for project collaboration, AssetWise for asset performance and operations, and SYNCHRO for construction management.