Barry J. Bentley Sells 34,987 Shares of Bentley Systems, Incorporated (NASDAQ:BSY) Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Barry J. Bentley sold 34,987 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the sale, the director now directly owns 12,213,248 shares in the company, valued at $590,754,805.76. 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 at this link.

Bentley Systems Trading Up 1.1 %

Shares of NASDAQ BSY traded up $0.55 during mid-day trading on Wednesday, hitting $49.00. The company’s stock had a trading volume of 524,911 shares, compared to its average volume of 1,261,656. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market cap of $14.13 billion, a price-to-earnings ratio of 45.28, a price-to-earnings-growth ratio of 4.19 and a beta of 1.03. The company’s fifty day simple moving average is $49.36 and its 200-day simple moving average is $50.56. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its 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. The firm had revenue of $330.34 million during the quarter, compared to analyst estimates of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 EPS. On average, sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

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

Institutional Trading of Bentley Systems

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake 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 valued at $26,000 after acquiring an additional 508 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after purchasing an additional 273 shares in the last quarter. Blue Trust Inc. grew its position in shares of Bentley Systems by 68,500.0% in the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after purchasing an additional 685 shares during the period. Central Pacific Bank Trust Division increased its stake in Bentley Systems by 57.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after buying an additional 358 shares during the period. 44.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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