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

Bentley Systems, Incorporated (NASDAQ:BSY) Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.95, for a total value of $2,447,500.00. Following the transaction, the director now directly owns 12,048,235 shares in the company, valued at approximately $589,761,103.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Bentley Systems Stock Performance

Shares of NASDAQ:BSY opened at $49.61 on Thursday. The firm’s 50 day simple moving average is $49.71 and its 200 day simple moving average is $50.47. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The company has a market capitalization of $14.42 billion, a price-to-earnings ratio of 43.52, a P/E/G ratio of 4.09 and a beta of 1.03. 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 (NASDAQ:BSY) last posted its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.08. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The company had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. During the same period last year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.06 per share. The ex-dividend date 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 21.05%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Bentley Systems

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in shares of Bentley Systems by 4,618.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after purchasing an additional 508 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Bentley Systems by 90.1% in the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after buying an additional 273 shares during the period. Blue Trust Inc. increased its position in shares of Bentley Systems by 68,500.0% during the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after acquiring an additional 685 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after acquiring an additional 276 shares during the period. Finally, Tortoise Investment Management LLC lifted its position in Bentley Systems by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after acquiring an additional 358 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Company Profile

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.