Barry J. Bentley Sells 50,000 Shares of Bentley Systems, Incorporated (NASDAQ:BSY) Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the sale, the director now owns 12,298,230 shares of the company’s stock, valued at $617,371,146. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Bentley Systems Stock Performance

Shares of BSY opened at $50.66 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. The company’s fifty day moving average price is $49.23 and its 200 day moving average price is $50.56. The company has a market capitalization of $14.72 billion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 4.19 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The business had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. During the same period in the previous year, the company posted $0.20 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, analysts expect that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 annualized dividend and a dividend yield of 0.47%. Bentley Systems’s dividend payout ratio is 22.43%.

Analysts Set New Price Targets

A number of research firms have issued reports on BSY. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group reduced their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Monday, September 16th. Finally, Piper Sandler restated an “overweight” rating and set a $63.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.57.

Institutional Investors Weigh In On Bentley Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new stake in shares of Bentley Systems in the second quarter valued at about $3,976,000. Cetera Investment Advisers raised its holdings in Bentley Systems by 1.1% in the 2nd quarter. Cetera Investment Advisers now owns 31,449 shares of the company’s stock valued at $1,552,000 after acquiring an additional 352 shares in the last quarter. Ecofi Investissements SA bought a new stake in shares of Bentley Systems in the 2nd quarter worth approximately $4,227,000. Magnolia Capital Advisors LLC grew its holdings in shares of Bentley Systems by 5.4% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company’s stock worth $242,000 after purchasing an additional 249 shares in the last quarter. Finally, Creative Planning increased its position in shares of Bentley Systems by 67.9% during the second quarter. Creative Planning now owns 1,091,058 shares of the company’s stock valued at $53,855,000 after purchasing an additional 441,316 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

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.