Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $3,246,971.91 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley sold 69,573 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the transaction, the director now directly owns 16,705,028 shares of the company’s stock, valued at approximately $779,623,656.76. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Bentley Systems Trading Down 0.4 %

Shares of BSY stock traded down $0.20 on Monday, hitting $46.87. 635,574 shares of the company’s stock traded hands, compared to its average volume of 742,658. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. The company’s fifty day simple moving average is $48.38 and its 200 day simple moving average is $49.04. The stock has a market capitalization of $13.63 billion, a price-to-earnings ratio of 42.23, a P/E/G ratio of 4.04 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. Equities analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 0.51%. Bentley Systems’s dividend payout ratio (DPR) is currently 21.62%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in Bentley Systems by 4,618.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after buying an additional 508 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Bentley Systems in the third quarter worth about $30,000. Central Pacific Bank Trust Division raised its holdings in Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after buying an additional 276 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Bentley Systems during the second quarter valued at approximately $43,000. Finally, Andra AP fonden purchased a new position in shares of Bentley Systems during the second quarter valued at approximately $54,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BSY has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price on the stock. Piper Sandler increased their target price on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Moderate Buy” and an average target price of $58.43.

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.