Insider Selling: Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells 1,152 Shares of Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the transaction, the director now directly owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Bentley Systems Stock Performance

Shares of NASDAQ BSY traded down $0.66 during midday trading on Tuesday, reaching $46.58. 1,393,213 shares of the company were exchanged, compared to its average volume of 1,229,318. The stock has a fifty day simple moving average of $47.56 and a 200 day simple moving average of $48.66. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19. The stock has a market cap of $13.54 billion, a P/E ratio of 41.96, a PEG ratio of 3.48 and a beta of 1.04. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $335.17 million during the quarter, compared to the consensus estimate of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. On average, research analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is presently 21.62%.

Hedge Funds Weigh In On Bentley Systems

Large investors have recently modified their holdings of the business. Clear Harbor Asset Management LLC grew its holdings in Bentley Systems by 1.5% during the third quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock worth $779,000 after acquiring an additional 220 shares during the period. Magnolia Capital Advisors LLC grew its stake 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 during the period. Central Pacific Bank Trust Division increased its holdings in shares of Bentley Systems by 57.1% in the 3rd 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 in the last quarter. Cetera Investment Advisers lifted its stake in shares of Bentley Systems by 1.1% in the second quarter. Cetera Investment Advisers now owns 31,449 shares of the company’s stock valued at $1,552,000 after purchasing an additional 352 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Bentley Systems by 4.3% during the third quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock worth $468,000 after buying an additional 378 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Friday, November 8th. JPMorgan Chase & Co. started coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. Finally, Piper Sandler reduced their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Bentley Systems presently has an average rating of “Moderate Buy” and an average price target of $57.29.

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.