Bentley Systems (NASDAQ:BSY) Stock: Insider Raymond Bentley Sells 500,000 Shares

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond Bentley sold 500,000 shares of Bentley Systems stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $46.47, for a total transaction of $23,235,000.00. Following the transaction, the director owned 13,816,404 shares of the company’s stock, valued at approximately $642,048,293.88. The trade was a 3.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bentley Systems Price Performance

Shares of NASDAQ BSY traded up $0.75 on Monday, hitting $45.40. The company’s stock had a trading volume of 3,009,065 shares, compared to its average volume of 2,896,546. Bentley Systems, Incorporated has a 12-month low of $28.08 and a 12-month high of $48.17. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 44.51, a price-to-earnings-growth ratio of 2.77 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a 50 day moving average of $35.61 and a 200-day moving average of $34.51.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Bentley Systems had a net margin of 19.57% and a return on equity of 29.99%. The business had revenue of $421.51 million during the quarter, compared to analysts’ expectations of $420.69 million. During the same period last year, the company posted $0.27 EPS. The company’s revenue was up 12.2% on a year-over-year basis. As a group, research analysts predict that Bentley Systems, Incorporated will post 1.20 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 22nd. Bentley Systems’s payout ratio is 27.45%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BSY. CX Institutional boosted its holdings in shares of Bentley Systems by 898.9% during the second quarter. CX Institutional now owns 939 shares of the company’s stock worth $28,000 after purchasing an additional 845 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in Bentley Systems in the second quarter valued at $30,000. Parallel Advisors LLC increased its stake in Bentley Systems by 49.5% in the first quarter. Parallel Advisors LLC now owns 2,445 shares of the company’s stock valued at $86,000 after purchasing an additional 810 shares during the last quarter. GAMMA Investing LLC increased its stake in Bentley Systems by 8.8% in the third quarter. GAMMA Investing LLC now owns 4,528 shares of the company’s stock valued at $145,000 after purchasing an additional 366 shares during the last quarter. Finally, Nykredit A S purchased a new position in Bentley Systems during the second quarter worth about $167,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on BSY shares. Piper Sandler restated an “overweight” rating and issued a $45.00 price objective on shares of Bentley Systems in a research report on Friday, August 7th. Rosenblatt Securities lifted their price objective on Bentley Systems from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald boosted their target price on shares of Bentley Systems from $42.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday. BMO Capital Markets upped their target price on shares of Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Finally, Oppenheimer raised their price target on shares of Bentley Systems from $43.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and a consensus price target of $46.67.

Bentley Systems Company Profile

Bentley Systems develops software for professionals who design, build, and operate infrastructure. Its customers include engineering firms, architects, construction companies, and infrastructure owners and operators working on projects such as roads, railways, buildings, utilities, and industrial facilities.

The company’s products support computer-aided design, project collaboration, infrastructure asset management, and digital twin development. Its software portfolio includes MicroStation for design and modeling, ProjectWise for project information management, and the iTwin platform for creating and working with digital representations of infrastructure assets.

Founded in 1984 by brothers Keith and Barry Bentley, the company serves customers around the world.