Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $936,155.00 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the sale, the director now owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Bentley Systems Price Performance

Shares of BSY traded down $0.07 during mid-day trading on Thursday, reaching $54.37. The stock had a trading volume of 987,789 shares, compared to its average volume of 1,341,337. The firm has a market cap of $15.54 billion, a price-to-earnings ratio of 54.99, a PEG ratio of 5.48 and a beta of 1.10. Bentley Systems, Incorporated has a 12 month low of $40.92 and a 12 month high of $55.37. The business has a fifty day moving average of $50.74 and a 200 day moving average of $50.86. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. Bentley Systems’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Equities analysts predict that Bentley Systems, Incorporated will post 0.82 EPS for the current year.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were paid a $0.06 dividend. The ex-dividend date was Tuesday, March 19th. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. This is an increase from Bentley Systems’s previous quarterly dividend of $0.05. Bentley Systems’s dividend payout ratio is currently 24.24%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its holdings in Bentley Systems by 223.4% in the 3rd quarter. California Public Employees Retirement System now owns 1,045,289 shares of the company’s stock valued at $52,432,000 after buying an additional 722,046 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in Bentley Systems by 4.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock worth $677,987,000 after purchasing an additional 578,512 shares during the period. Vanguard Group Inc. increased its stake in Bentley Systems by 2.6% during the third quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock worth $1,091,604,000 after purchasing an additional 556,363 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Bentley Systems by 43.0% during the third quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock worth $54,656,000 after buying an additional 327,577 shares during the period. Finally, Norges Bank purchased a new stake in shares of Bentley Systems during the fourth quarter worth approximately $16,424,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $60.00 price objective on shares of Bentley Systems in a report on Wednesday, February 28th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, February 28th. William Blair assumed coverage on shares of Bentley Systems in a report on Thursday, March 28th. They set an “outperform” rating for the company. Robert W. Baird boosted their price objective on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Finally, Rosenblatt Securities raised shares of Bentley Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $54.00 to $60.00 in a report on Monday, February 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $58.44.

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.