Bentley Systems, Incorporated (NASDAQ:BSY) Short Interest Down 10.4% in September

Bentley Systems, Incorporated (NASDAQ:BSY) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 7,150,000 shares, a decrease of 10.4% from the September 15th total of 7,980,000 shares. Approximately 5.2% of the company’s shares are sold short. Based on an average daily trading volume, of 1,000,000 shares, the days-to-cover ratio is currently 7.2 days.

Insider Activity

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $50.92, for a total value of $2,546,000.00. Following the sale, the director now owns 12,148,235 shares in the company, valued at $618,588,126.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Barry J. Bentley sold 34,987 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $48.37, for a total value of $1,692,321.19. Following the completion of the sale, the director now owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $50.92, for a total value of $2,546,000.00. Following the transaction, the director now owns 12,148,235 shares in the company, valued at $618,588,126.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 226,032 shares of company stock valued at $11,248,676. 21.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds have recently modified their holdings of the company. Advisor OS LLC lifted its position in shares of Bentley Systems by 0.7% during the 2nd quarter. Advisor OS LLC now owns 30,983 shares of the company’s stock valued at $1,529,000 after buying an additional 226 shares in the last quarter. Magnolia Capital Advisors LLC raised its position in Bentley Systems by 5.4% during the second quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company’s stock worth $242,000 after acquiring an additional 249 shares during the period. GAMMA Investing LLC lifted its holdings in Bentley Systems by 90.1% during the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after purchasing an additional 273 shares in the last quarter. WR Wealth Planners LLC lifted its holdings in Bentley Systems by 4.5% during the second quarter. WR Wealth Planners LLC now owns 6,435 shares of the company’s stock valued at $318,000 after purchasing an additional 275 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its position in shares of Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after purchasing an additional 276 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

NASDAQ BSY traded up $0.35 during trading hours on Thursday, reaching $50.05. The stock had a trading volume of 468,971 shares, compared to its average volume of 1,243,069. Bentley Systems has a 52-week low of $43.82 and a 52-week high of $57.19. The stock has a fifty day moving average of $49.75 and a 200 day moving average of $50.49. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market cap of $14.44 billion, a P/E ratio of 46.78, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03.

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

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 annualized dividend and a yield of 0.48%. Bentley Systems’s dividend payout ratio is presently 22.43%.

Wall Street Analysts Forecast Growth

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

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.