Bentley Systems (NASDAQ:BSY) Stock: Insider Raymond Bentley Sells 139,135 Shares

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond Bentley sold 139,135 shares of the company’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $40.05, for a total transaction of $5,572,356.75. Following the completion of the sale, the director directly owned 14,660,607 shares of the company’s stock, valued at $587,157,310.35. This represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bentley Systems Trading Down 1.3%

BSY stock traded down $0.52 during trading on Tuesday, reaching $39.32. 1,745,062 shares of the stock were exchanged, compared to its average volume of 2,835,620. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of 43.21, a P/E/G ratio of 2.48 and a beta of 0.99. The business has a 50 day moving average price of $34.63 and a 200-day moving average price of $34.40. Bentley Systems, Incorporated has a 1 year low of $28.08 and a 1 year high of $52.24.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The business had revenue of $410.73 million during the quarter, compared to analysts’ expectations of $412.12 million. During the same quarter in the prior year, the company posted $0.32 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, research analysts predict that Bentley Systems, Incorporated will post 1.21 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were issued a $0.07 dividend. The ex-dividend date was Tuesday, September 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Bentley Systems’s dividend payout ratio is currently 30.77%.

Hedge Funds Weigh In On Bentley Systems

Several large investors have recently made changes to their positions in BSY. Physician Wealth Advisors Inc. boosted its position in shares of Bentley Systems by 80.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock worth $28,000 after purchasing an additional 352 shares during the period. CX Institutional grew its stake in shares of Bentley Systems by 898.9% in the second quarter. CX Institutional now owns 939 shares of the company’s stock valued at $28,000 after buying an additional 845 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Bentley Systems in the first quarter valued at $34,000. Harbor Investment Advisory LLC purchased a new stake in shares of Bentley Systems in the 2nd quarter valued at $30,000. Finally, Parallel Advisors LLC lifted its stake in Bentley Systems by 49.5% during the 1st quarter. Parallel Advisors LLC now owns 2,445 shares of the company’s stock worth $86,000 after acquiring an additional 810 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BSY. Rosenblatt Securities reiterated a “buy” rating and issued a $50.00 price objective on shares of Bentley Systems in a research report on Tuesday. Weiss Ratings upgraded Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 19th. BMO Capital Markets upped their price target on Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Cantor Fitzgerald increased their price target on Bentley Systems from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, October 16th. Finally, Piper Sandler reissued an “overweight” rating and set a $45.00 price objective on shares of Bentley Systems in a research report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus target price of $44.77.

Bentley Systems Company Profile

Bentley Systems, Incorporated is a software company that develops solutions for the design, construction, and operation of infrastructure. Its customers include engineers, architects, geospatial professionals, construction firms, and infrastructure owner-operators in sectors such as transportation, water, utilities, industrial facilities, and buildings.

The company’s product portfolio includes MicroStation for infrastructure design, ProjectWise for project collaboration, AssetWise for asset performance and operations, and SYNCHRO for construction management.