Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $2,510,000.00 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the completion of the sale, the director now owns 12,298,230 shares of the company’s stock, valued at $617,371,146. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Bentley Systems Stock Performance

NASDAQ BSY opened at $50.84 on Friday. The company has a market capitalization of $14.67 billion, a PE ratio of 47.51, a price-to-earnings-growth ratio of 4.19 and a beta of 1.03. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19. The company has a 50-day simple moving average of $49.27 and a 200 day simple moving average of $50.57.

Bentley Systems (NASDAQ:BSY) last posted its quarterly 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. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The company had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. During the same quarter in the previous year, the firm posted $0.20 EPS. Bentley Systems’s revenue was up 11.3% on a year-over-year basis. On average, research analysts predict that Bentley Systems, Incorporated will post 0.9 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is currently 22.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BSY. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and set a $63.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Monday, September 16th. Finally, The Goldman Sachs Group reduced their target price on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and an average price target of $59.57.

Institutional Investors Weigh In On Bentley Systems

Several institutional investors have recently added to or reduced their stakes in BSY. Allspring Global Investments Holdings LLC raised its position in shares of Bentley Systems by 4,618.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after purchasing an additional 508 shares during the period. GAMMA Investing LLC grew its stake in Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after buying an additional 273 shares in the last quarter. Blue Trust Inc. raised its holdings in Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after acquiring an additional 685 shares during the period. Tortoise Investment Management LLC lifted its position in shares of Bentley Systems by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after acquiring an additional 358 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Bentley Systems in the second quarter worth $43,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

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.