Bentley Systems, Incorporated (NASDAQ:BSY) Director Barry J. Bentley Sells 50,000 Shares

Bentley Systems, Incorporated (NASDAQ:BSY) Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $49.44, for a total value of $2,472,000.00. Following the sale, the director now directly owns 12,098,235 shares of the company’s stock, valued at $598,136,738.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Bentley Systems Trading Up 0.9 %

Shares of NASDAQ:BSY opened at $49.15 on Friday. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The business’s fifty day simple moving average is $49.75 and its 200-day simple moving average is $50.48. The company has a market capitalization of $14.18 billion, a PE ratio of 45.93, a P/E/G ratio of 4.09 and a beta of 1.03. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The business had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. During the same period last year, the business posted $0.20 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts predict that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. Bentley Systems’s dividend payout ratio is presently 22.43%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BSY. Swedbank AB increased its holdings in shares of Bentley Systems by 514.5% in the 2nd quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock valued at $204,069,000 after acquiring an additional 3,461,500 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in Bentley Systems by 3.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock worth $778,832,000 after buying an additional 586,458 shares during the last quarter. Creative Planning grew its stake in Bentley Systems by 67.9% during the 2nd quarter. Creative Planning now owns 1,091,058 shares of the company’s stock worth $53,855,000 after buying an additional 441,316 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Bentley Systems during the 2nd quarter worth $20,402,000. Finally, Handelsbanken Fonder AB grew its stake in Bentley Systems by 41.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock worth $67,222,000 after buying an additional 390,000 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.