Insider Selling: Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells 122,114 Shares of Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond B. Bentley sold 122,114 shares of Bentley Systems stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $50.70, for a total value of $6,191,179.80. Following the transaction, the director now owns 15,347,424 shares of the company’s stock, valued at $778,114,396.80. The trade was a 0.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Bentley Systems Stock Performance

Shares of BSY stock traded up $1.10 during trading on Monday, reaching $51.83. 1,862,034 shares of the company’s stock traded hands, compared to its average volume of 1,229,109. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $52.03. The firm’s 50-day moving average is $46.62 and its 200 day moving average is $45.47. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $15.13 billion, a P/E ratio of 65.61, a PEG ratio of 4.26 and a beta of 1.07.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The firm had revenue of $370.54 million for the quarter, compared to analysts’ expectations of $366.76 million. During the same quarter last year, the company posted $0.31 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems’s dividend payout ratio is 35.44%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Bentley Systems by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock worth $708,114,000 after acquiring an additional 898,115 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Bentley Systems by 1.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company’s stock worth $636,027,000 after acquiring an additional 160,496 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Bentley Systems by 0.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company’s stock worth $262,209,000 after purchasing an additional 24,019 shares in the last quarter. Impax Asset Management Group plc increased its stake in shares of Bentley Systems by 41.9% in the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock worth $115,719,000 after purchasing an additional 736,369 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Bentley Systems by 8,187,760.9% during the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company’s stock valued at $74,086,000 after purchasing an additional 1,883,185 shares during the period. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Oppenheimer increased their target price on Bentley Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Wall Street Zen raised shares of Bentley Systems from a “hold” rating to a “buy” rating in a research note on Sunday. KeyCorp upped their price target on shares of Bentley Systems from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Robert W. Baird reduced their target price on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, Mizuho decreased their price objective on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

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.