Bentley Systems (NASDAQ:BSY) CFO Sells $450,000.00 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) CFO Werner Andre sold 10,000 shares of the stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the transaction, the chief financial officer directly owned 367,843 shares of the company’s stock, valued at $16,552,935. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Bentley Systems Stock Down 0.6%

Shares of BSY opened at $44.19 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $36.30 and a two-hundred day moving average price of $34.63. The stock has a market cap of $12.86 billion, a price-to-earnings ratio of 43.32, a P/E/G ratio of 2.76 and a beta of 0.98. Bentley Systems, Incorporated has a 12 month low of $28.08 and a 12 month high of $48.17.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.36 earnings per share for the quarter, beating 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 company had revenue of $421.51 million for the quarter, compared to analyst estimates of $420.69 million. During the same period in the prior year, the company posted $0.27 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. Equities analysts predict that Bentley Systems, Incorporated will post 1.20 EPS for the current fiscal year.

Bentley Systems Announces Dividend

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

Institutional Investors Weigh In On Bentley Systems

A number of large investors have recently bought and sold shares of BSY. Arrowstreet Capital Limited Partnership increased its holdings in Bentley Systems by 253.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company’s stock valued at $167,924,000 after purchasing an additional 3,429,087 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Bentley Systems in the second quarter worth $78,738,000. First Trust Advisors LP boosted its stake in Bentley Systems by 405.2% in the third quarter. First Trust Advisors LP now owns 1,961,505 shares of the company’s stock worth $62,670,000 after purchasing an additional 1,573,218 shares in the last quarter. Madison Asset Management LLC bought a new stake in shares of Bentley Systems during the second quarter worth $40,807,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Bentley Systems by 19.9% during the third quarter. Pictet Asset Management Holding SA now owns 5,235,307 shares of the company’s stock worth $167,260,000 after purchasing an additional 867,821 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BSY has been the topic of a number of analyst reports. Weiss Ratings upgraded Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 19th. Piper Sandler reissued an “overweight” rating and set a $45.00 price objective on shares of Bentley Systems in a report on Friday, August 7th. Royal Bank Of Canada boosted their target price on shares of Bentley Systems from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. Rosenblatt Securities upped their target price on shares of Bentley Systems from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Finally, Oppenheimer upped their target price on shares of Bentley Systems from $43.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.