Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $12,646,747.85 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond B. Bentley sold 249,689 shares of the firm’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $50.65, for a total value of $12,646,747.85. Following the completion of the transaction, the director now owns 15,469,538 shares in the company, valued at $783,532,099.70. The trade was a 1.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Bentley Systems Trading Up 1.4%

Shares of BSY stock opened at $52.55 on Wednesday. The company’s 50-day moving average price is $46.99 and its 200-day moving average price is $45.53. 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 has a market cap of $15.34 billion, a price-to-earnings ratio of 66.52, a PEG ratio of 4.35 and a beta of 1.07. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $52.68.

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

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd were given a $0.07 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.53%. Bentley Systems’s payout ratio is currently 35.44%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BSY. CIBC Asset Management Inc lifted its position in Bentley Systems by 9.8% in the fourth quarter. CIBC Asset Management Inc now owns 10,105 shares of the company’s stock valued at $472,000 after buying an additional 902 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Bentley Systems by 31.1% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 47,613 shares of the company’s stock valued at $2,224,000 after buying an additional 11,300 shares during the last quarter. IFP Advisors Inc lifted its position in Bentley Systems by 4,627.3% in the fourth quarter. IFP Advisors Inc now owns 4,680 shares of the company’s stock valued at $220,000 after buying an additional 4,581 shares during the last quarter. Impax Asset Management Group plc lifted its position in Bentley Systems by 41.9% in the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock valued at $115,719,000 after buying an additional 736,369 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Bentley Systems by 10.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock valued at $49,211,000 after buying an additional 97,950 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BSY shares. Robert W. Baird lowered their target price on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Wall Street Zen raised shares of Bentley Systems from a “hold” rating to a “buy” rating in a research note on Sunday. KeyCorp lifted their target price on shares of Bentley Systems from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Rosenblatt Securities lowered their target price on shares of Bentley Systems from $62.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and an average price target of $52.00.

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.