Insider Selling: Bentley Systems, Incorporated (NASDAQ:BSY) CRO Sells $557,324.04 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) CRO Brock Ballard sold 12,363 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the completion of the transaction, the executive now directly owns 68,064 shares of the company’s stock, valued at approximately $3,068,325.12. The trade was a 15.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Bentley Systems Stock Performance

NASDAQ BSY opened at $46.53 on Monday. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $57.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $14.10 billion, a P/E ratio of 41.92, a P/E/G ratio of 3.52 and a beta of 1.05. The company has a fifty day moving average of $42.20 and a 200-day moving average of $45.54.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. The business had revenue of $370.54 million during the quarter, compared to the consensus estimate of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. As a group, equities research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 19th were paid a $0.07 dividend. The ex-dividend date was Wednesday, March 19th. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.60%. Bentley Systems’s payout ratio is currently 35.44%.

Institutional Trading of Bentley Systems

Several hedge funds have recently added to or reduced their stakes in the business. ASR Vermogensbeheer N.V. bought a new stake in Bentley Systems in the first quarter worth $291,000. Vanguard Group Inc. increased its position in shares of Bentley Systems by 5.3% in the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock valued at $708,114,000 after acquiring an additional 898,115 shares during the period. ING Groep NV purchased a new position in shares of Bentley Systems in the first quarter valued at about $4,233,000. Blair William & Co. IL increased its position in shares of Bentley Systems by 5.9% in the first quarter. Blair William & Co. IL now owns 18,129 shares of the company’s stock valued at $713,000 after acquiring an additional 1,005 shares during the period. Finally, XTX Topco Ltd increased its position in shares of Bentley Systems by 272.4% in the first quarter. XTX Topco Ltd now owns 33,339 shares of the company’s stock valued at $1,312,000 after acquiring an additional 24,387 shares during the period. 44.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group raised their price target on shares of Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday. Oppenheimer raised their price target on shares of Bentley Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday. Mizuho cut their price target on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Rosenblatt Securities cut their price target on shares of Bentley Systems from $62.00 to $53.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, Robert W. Baird dropped their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.00.

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.