Insider Selling: Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells 118,949 Shares of Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley sold 118,949 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total transaction of $6,543,384.49. Following the sale, the director now directly owns 17,031,803 shares in the company, valued at approximately $936,919,483.03. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Bentley Systems Price Performance

BSY traded up $0.65 during trading on Thursday, reaching $55.01. The stock had a trading volume of 871,558 shares, compared to its average volume of 1,318,590. The business has a 50-day moving average of $51.01 and a 200-day moving average of $50.91. Bentley Systems, Incorporated has a one year low of $44.46 and a one year high of $55.37. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $15.72 billion, a PE ratio of 54.91, a PEG ratio of 5.36 and a beta of 1.08.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $310.64 million for the quarter, compared to analyst estimates of $313.67 million. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS. As a group, equities research analysts anticipate that Bentley Systems, Incorporated will post 0.82 EPS for the current fiscal year.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.44%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, March 19th. Bentley Systems’s payout ratio is presently 24.24%.

Hedge Funds Weigh In On Bentley Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System lifted its stake in Bentley Systems by 223.4% in the third quarter. California Public Employees Retirement System now owns 1,045,289 shares of the company’s stock worth $52,432,000 after purchasing an additional 722,046 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Bentley Systems by 4.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock worth $677,987,000 after buying an additional 578,512 shares during the period. Vanguard Group Inc. lifted its stake in shares of Bentley Systems by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after acquiring an additional 556,363 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Bentley Systems by 43.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock valued at $54,656,000 after acquiring an additional 327,577 shares during the period. Finally, Norges Bank bought a new position in Bentley Systems during the 4th quarter worth approximately $16,424,000. Institutional investors own 44.16% of the company’s stock.

Wall Street Analyst Weigh In

BSY has been the subject of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a research report on Tuesday, April 30th. Mizuho upped their price target on Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird boosted their price objective on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Piper Sandler reiterated an “overweight” rating and issued a $63.00 target price (up from $60.00) on shares of Bentley Systems in a research note on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.33.

Bentley Systems Company Profile

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.