Insider Selling: Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells 273,094 Shares of Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond B. Bentley sold 273,094 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $50.30, for a total value of $13,736,628.20. Following the sale, the director now owns 15,719,227 shares of the company’s stock, valued at approximately $790,677,118.10. The trade was a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bentley Systems Trading Up 0.0%

NASDAQ:BSY opened at $50.73 on Friday. The firm has a market cap of $14.81 billion, a P/E ratio of 64.22, a PEG ratio of 4.26 and a beta of 1.07. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13. The stock’s 50 day simple moving average is $46.62 and its 200-day simple moving average is $45.53. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $52.03.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. Equities analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems’s dividend payout ratio is presently 35.44%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BSY shares. JPMorgan Chase & Co. decreased their target price on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Royal Bank Of Canada boosted their target price on Bentley Systems from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Mizuho reduced their price objective on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. KeyCorp boosted their price objective on Bentley Systems from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Finally, UBS Group boosted their price objective on Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BSY. CIBC Asset Management Inc boosted its position in Bentley Systems by 9.8% during the fourth quarter. CIBC Asset Management Inc now owns 10,105 shares of the company’s stock worth $472,000 after purchasing an additional 902 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Bentley Systems by 4.3% during the fourth quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock worth $426,000 after purchasing an additional 380 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Bentley Systems by 31.1% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 47,613 shares of the company’s stock worth $2,224,000 after purchasing an additional 11,300 shares in the last quarter. IFP Advisors Inc boosted its position in Bentley Systems by 4,627.3% during the fourth quarter. IFP Advisors Inc now owns 4,680 shares of the company’s stock worth $220,000 after purchasing an additional 4,581 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its position in Bentley Systems by 41.9% during the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock worth $115,719,000 after purchasing an additional 736,369 shares in the last quarter. 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.