Bentley Systems (NASDAQ:BSY) Stock: Insider Raymond Bentley Sells 344,203 Shares

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond Bentley sold 344,203 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $40.24, for a total transaction of $13,850,728.72. Following the completion of the transaction, the director directly owned 14,316,404 shares in the company, valued at approximately $576,092,096.96. This represents a 2.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bentley Systems Stock Down 0.6%

Shares of NASDAQ:BSY traded down $0.27 during midday trading on Tuesday, hitting $42.13. 3,841,697 shares of the company’s stock traded hands, compared to its average volume of 2,841,477. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $12.24 billion, a PE ratio of 46.30, a P/E/G ratio of 2.46 and a beta of 0.99. The firm’s fifty day moving average price is $35.09 and its two-hundred day moving average price is $34.41. Bentley Systems, Incorporated has a twelve month low of $28.08 and a twelve month high of $50.52.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%. The firm had revenue of $410.73 million during the quarter, compared to the consensus estimate of $412.12 million. During the same period in the prior year, the firm earned $0.32 EPS. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts anticipate that Bentley Systems, Incorporated will post 1.21 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd were given a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Bentley Systems’s dividend payout ratio is presently 30.77%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BSY shares. Piper Sandler reissued an “overweight” rating and set a $45.00 price target on shares of Bentley Systems in a research report on Friday, August 7th. Cantor Fitzgerald lifted their price objective on shares of Bentley Systems from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. Weiss Ratings raised shares of Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 19th. Rosenblatt Securities restated a “buy” rating and issued a $50.00 target price on shares of Bentley Systems in a research note on Tuesday, October 27th. Finally, BMO Capital Markets raised their price target on shares of Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.77.

Institutional Trading of Bentley Systems

A number of hedge funds have recently made changes to their positions in BSY. CX Institutional boosted its stake in Bentley Systems by 898.9% during the 2nd quarter. CX Institutional now owns 939 shares of the company’s stock valued at $28,000 after acquiring an additional 845 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in shares of Bentley Systems during the second quarter worth about $30,000. Summit Securities Group LLC bought a new position in shares of Bentley Systems during the first quarter worth about $34,000. Parallel Advisors LLC lifted its position in shares of Bentley Systems by 49.5% during the first quarter. Parallel Advisors LLC now owns 2,445 shares of the company’s stock worth $86,000 after purchasing an additional 810 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Bentley Systems by 8.8% in the third quarter. GAMMA Investing LLC now owns 4,528 shares of the company’s stock worth $145,000 after purchasing an additional 366 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

About Bentley Systems

Bentley Systems, Incorporated is a software company that develops solutions for the design, construction, and operation of infrastructure. Its customers include engineers, architects, geospatial professionals, construction firms, and infrastructure owner-operators in sectors such as transportation, water, utilities, industrial facilities, and buildings.

The company’s product portfolio includes MicroStation for infrastructure design, ProjectWise for project collaboration, AssetWise for asset performance and operations, and SYNCHRO for construction management.