Bentley Systems (NASDAQ:BSY) Director Keith Bentley Sells 100,000 Shares of Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith Bentley sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $45.18, for a total transaction of $4,518,000.00. Following the completion of the sale, the director directly owned 3,745,254 shares in the company, valued at $169,210,575.72. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bentley Systems Trading Down 0.6%

Shares of Bentley Systems stock opened at $44.19 on Friday. Bentley Systems, Incorporated has a 1 year low of $28.08 and a 1 year high of $48.17. The firm has a market cap of $12.86 billion, a PE ratio of 43.32, a PEG ratio of 2.76 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.65 and a quick ratio of 0.65. The company has a 50 day simple moving average of $36.30 and a two-hundred day simple moving average of $34.63.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $421.51 million for the quarter, compared to analyst estimates of $420.69 million. Bentley Systems had a net margin of 19.57% and a return on equity of 29.99%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. Analysts expect that Bentley Systems, Incorporated will post 1.20 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 22nd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, September 22nd. Bentley Systems’s dividend payout ratio (DPR) is presently 27.45%.

Analyst Upgrades and Downgrades

BSY has been the subject of a number of recent research reports. Piper Sandler restated an “overweight” rating and issued a $45.00 price objective on shares of Bentley Systems in a report on Friday, August 7th. Royal Bank Of Canada increased their target price on shares of Bentley Systems from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, November 6th. BMO Capital Markets lifted their target price on shares of Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Cantor Fitzgerald raised their price objective on Bentley Systems from $42.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. Finally, Rosenblatt Securities raised their price objective on Bentley Systems from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, November 6th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.67.

Institutional Trading of Bentley Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP bought a new position in shares of Bentley Systems in the second quarter worth approximately $6,975,000. Groupe la Francaise boosted its position in Bentley Systems by 46.1% during the 2nd quarter. Groupe la Francaise now owns 159,678 shares of the company’s stock valued at $4,776,000 after buying an additional 50,412 shares during the period. SummitTX Capital L.P. boosted its position in Bentley Systems by 74.9% during the 1st quarter. SummitTX Capital L.P. now owns 104,520 shares of the company’s stock valued at $3,671,000 after buying an additional 44,774 shares during the period. Whetstone Capital Advisors LLC purchased a new stake in Bentley Systems during the 2nd quarter valued at $2,935,000. Finally, Bank of New York Mellon Corp bought a new stake in Bentley Systems in the 2nd quarter worth $78,738,000. Institutional investors own 44.16% of the company’s stock.

About Bentley Systems

Bentley Systems develops software for professionals who design, build, and operate infrastructure. Its customers include engineering firms, architects, construction companies, and infrastructure owners and operators working on projects such as roads, railways, buildings, utilities, and industrial facilities. The company’s products support computer-aided design, project collaboration, infrastructure asset management, and digital twin development. Its software portfolio includes MicroStation for design and modeling, ProjectWise for project information management, and the iTwin platform for creating and working with digital representations of infrastructure assets.