Bentley Systems (NASDAQ:BSY) Stock: Insider Raymond Bentley Sells 500,000 Shares

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond Bentley sold 500,000 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $46.47, for a total transaction of $23,235,000.00. Following the transaction, the director owned 13,816,404 shares in the company, valued at approximately $642,048,293.88. The trade was a 3.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bentley Systems Stock Performance

NASDAQ BSY opened at $45.24 on Wednesday. The firm has a market capitalization of $13.16 billion, a P/E ratio of 44.35, a price-to-earnings-growth ratio of 2.82 and a beta of 0.98. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The firm’s fifty day moving average price is $35.94 and its two-hundred day moving average price is $34.58. Bentley Systems, Incorporated has a 1 year low of $28.08 and a 1 year high of $48.17.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $421.51 million during the quarter, compared to the consensus estimate of $420.69 million. Bentley Systems had a net margin of 19.57% and a return on equity of 29.99%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. As a group, research analysts anticipate that Bentley Systems, Incorporated will post 1.20 EPS for the current year.

Bentley Systems Announces Dividend

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

Institutional Investors Weigh In On Bentley Systems

A number of institutional investors have recently modified their holdings of the business. Yousif Capital Management LLC grew its stake in shares of Bentley Systems by 0.7% in the third quarter. Yousif Capital Management LLC now owns 41,229 shares of the company’s stock valued at $1,317,000 after acquiring an additional 298 shares in the last quarter. Diversify Advisory Services LLC raised its stake in Bentley Systems by 1.6% in the 3rd quarter. Diversify Advisory Services LLC now owns 20,930 shares of the company’s stock worth $669,000 after purchasing an additional 327 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Bentley Systems by 8.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,528 shares of the company’s stock valued at $145,000 after purchasing an additional 366 shares during the period. Liontrust Investment Partners LLP grew its position in shares of Bentley Systems by 7.4% during the 1st quarter. Liontrust Investment Partners LLP now owns 7,349 shares of the company’s stock worth $258,000 after purchasing an additional 505 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Bentley Systems by 0.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 67,528 shares of the company’s stock worth $2,156,000 after purchasing an additional 534 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on BSY. Rosenblatt Securities boosted their price target on Bentley Systems from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. Piper Sandler reissued an “overweight” rating and set a $45.00 target price on shares of Bentley Systems in a report on Friday, August 7th. Oppenheimer increased their price target on Bentley Systems from $43.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank Of Canada increased their price target on Bentley Systems from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. Finally, Weiss Ratings raised Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 19th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.67.

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.