Insider Selling: Bentley Systems (NASDAQ:BSY) Director Sells $4,518,000.00 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith Bentley sold 100,000 shares of Bentley Systems stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $45.18, for a total value of $4,518,000.00. Following the completion of the sale, the director directly owned 3,745,254 shares of the company’s stock, valued at $169,210,575.72. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bentley Systems Trading Down 0.6%

Shares of BSY stock traded down $0.25 on Thursday, hitting $44.19. The stock had a trading volume of 2,145,609 shares, compared to its average volume of 2,891,458. 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 firm has a market capitalization of $12.86 billion, a P/E ratio of 43.32, a P/E/G ratio of 2.81 and a beta of 0.98. Bentley Systems, Incorporated has a 1 year low of $28.08 and a 1 year high of $48.17. The company’s 50 day moving average price is $36.12 and its 200-day moving average price is $34.61.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Thursday, November 5th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Bentley Systems had a return on equity of 29.99% and a net margin of 19.57%. The firm had revenue of $421.51 million for the quarter, compared to analyst estimates of $420.69 million. During the same quarter in the prior year, the company earned $0.27 EPS. Bentley Systems’s revenue was up 12.2% on a year-over-year basis. Analysts anticipate that Bentley Systems, Incorporated will post 1.20 earnings per share for the current year.

Bentley Systems Dividend Announcement

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

Analyst Ratings Changes

BSY has been the topic of several research reports. Piper Sandler reissued an “overweight” rating and set a $45.00 price target on shares of Bentley Systems in a research report on Friday, August 7th. BMO Capital Markets lifted their price objective 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. Royal Bank Of Canada upped their target price on shares of Bentley Systems from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, November 6th. Cantor Fitzgerald increased their target price on shares of Bentley Systems from $42.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 6th. Finally, Weiss Ratings raised shares of Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 19th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Moderate Buy” and an average target price of $46.67.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Yousif Capital Management LLC grew its position in shares of Bentley Systems by 0.7% during the third quarter. Yousif Capital Management LLC now owns 41,229 shares of the company’s stock worth $1,317,000 after buying an additional 298 shares in the last quarter. Diversify Advisory Services LLC raised its holdings in shares of Bentley Systems by 1.6% in the 3rd quarter. Diversify Advisory Services LLC now owns 20,930 shares of the company’s stock valued at $669,000 after purchasing an additional 327 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Bentley Systems by 8.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,528 shares of the company’s stock worth $145,000 after purchasing an additional 366 shares during the last quarter. Liontrust Investment Partners LLP lifted its position in shares of Bentley Systems by 7.4% during the 1st quarter. Liontrust Investment Partners LLP now owns 7,349 shares of the company’s stock worth $258,000 after purchasing an additional 505 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Bentley Systems by 0.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 67,528 shares of the company’s stock worth $2,156,000 after purchasing an additional 534 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

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.