Insider Selling: Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $3,246,971.91 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley sold 69,573 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the sale, the director now owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bentley Systems Price Performance

NASDAQ:BSY opened at $46.74 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The business’s 50-day moving average price is $48.22 and its 200 day moving average price is $48.96. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19. The firm has a market cap of $13.59 billion, a P/E ratio of 42.11, a PEG ratio of 4.04 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $335.17 million for the quarter, compared to analysts’ expectations of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is presently 21.62%.

Institutional Investors Weigh In On Bentley Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Clear Harbor Asset Management LLC grew its position in Bentley Systems by 1.5% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock worth $779,000 after purchasing an additional 220 shares in the last quarter. Magnolia Capital Advisors LLC grew its holdings in shares of Bentley Systems by 5.4% during the second quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company’s stock valued at $242,000 after buying an additional 249 shares in the last quarter. Central Pacific Bank Trust Division raised its position in Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after buying an additional 276 shares during the period. Cetera Investment Advisers lifted its stake in Bentley Systems by 1.1% in the 2nd quarter. Cetera Investment Advisers now owns 31,449 shares of the company’s stock worth $1,552,000 after acquiring an additional 352 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Bentley Systems by 4.3% during the 3rd quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock worth $468,000 after acquiring an additional 378 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. started coverage on Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Friday, November 8th. Finally, Piper Sandler dropped their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $57.29.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.