Bentley Systems (NASDAQ:BSY) Stock: Insider Raymond Bentley Sells 16,662 Shares

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond Bentley sold 16,662 shares of the firm’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $40.00, for a total transaction of $666,480.00. Following the completion of the transaction, the director directly owned 14,799,742 shares of the company’s stock, valued at approximately $591,989,680. This represents a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bentley Systems Stock Performance

Shares of NASDAQ:BSY traded down $0.52 on Tuesday, hitting $39.32. 1,745,062 shares of the company were exchanged, compared to its average volume of 2,835,620. Bentley Systems, Incorporated has a 1-year low of $28.08 and a 1-year high of $52.24. The stock’s 50 day moving average price is $34.63 and its 200 day moving average price is $34.40. 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 P/E ratio of 43.21, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99.

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

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were given 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%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Bentley Systems

Hedge funds have recently modified their holdings of the company. Physician Wealth Advisors Inc. grew its stake in Bentley Systems by 80.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after acquiring an additional 352 shares during the period. CX Institutional raised its position in Bentley Systems by 898.9% during the second quarter. CX Institutional now owns 939 shares of the company’s stock worth $28,000 after acquiring an additional 845 shares during the period. Harbor Investment Advisory LLC acquired a new position in Bentley Systems during the second quarter worth $30,000. Summit Securities Group LLC acquired a new position in Bentley Systems during the first quarter worth $34,000. Finally, Parallel Advisors LLC lifted its holdings in Bentley Systems by 49.5% during 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 in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

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.