Insider Selling: Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells 118,949 Shares of Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley sold 118,949 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total value of $6,543,384.49. Following the completion of the sale, the director now directly owns 17,031,803 shares in the company, valued at approximately $936,919,483.03. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Bentley Systems Trading Up 1.2 %

Shares of NASDAQ:BSY traded up $0.65 during mid-day trading on Thursday, hitting $55.01. The stock had a trading volume of 871,558 shares, compared to its average volume of 1,318,590. Bentley Systems, Incorporated has a 12-month low of $44.46 and a 12-month high of $55.37. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market cap of $15.72 billion, a PE ratio of 54.91, a P/E/G ratio of 5.36 and a beta of 1.08. The company’s 50 day moving average is $51.01 and its 200-day moving average is $50.91.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $310.64 million during the quarter, compared to analysts’ expectations of $313.67 million. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. Bentley Systems’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. On average, sell-side analysts predict that Bentley Systems, Incorporated will post 0.82 EPS for the current year.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were issued a $0.06 dividend. This is an increase from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.44%. Bentley Systems’s dividend payout ratio is currently 24.24%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BSY. Piper Sandler reiterated an “overweight” rating and issued a $63.00 price objective (up from $60.00) on shares of Bentley Systems in a research report on Wednesday. William Blair started coverage on shares of Bentley Systems in a research report on Thursday, March 28th. They issued an “outperform” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. Mizuho lifted their price target on Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $60.00 price objective on shares of Bentley Systems in a report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and an average target price of $59.33.

Institutional Trading of Bentley Systems

Institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System increased its stake in Bentley Systems by 223.4% in the 3rd quarter. California Public Employees Retirement System now owns 1,045,289 shares of the company’s stock valued at $52,432,000 after buying an additional 722,046 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Bentley Systems by 4.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock valued at $677,987,000 after acquiring an additional 578,512 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Bentley Systems by 2.6% in the third quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock worth $1,091,604,000 after acquiring an additional 556,363 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Bentley Systems by 43.0% during the third quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock worth $54,656,000 after acquiring an additional 327,577 shares in the last quarter. Finally, Norges Bank acquired a new stake in Bentley Systems during the fourth quarter valued at $16,424,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

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.