Insider Selling: Bentley Systems (NASDAQ:BSY) Director Sells $5,572,356.75 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond Bentley sold 139,135 shares of the business’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $40.05, for a total transaction of $5,572,356.75. Following the sale, the director directly owned 14,660,607 shares in the company, valued at approximately $587,157,310.35. The trade was a 0.94% decrease in their position. The transaction was disclosed in a legal 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 Stock Up 0.6%

Shares of BSY opened at $39.65 on Friday. Bentley Systems, Incorporated has a 52 week low of $28.08 and a 52 week high of $51.22. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 43.57, a PEG ratio of 2.46 and a beta of 0.99. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a fifty day moving average of $34.89 and a 200-day moving average of $34.39.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%. The business had revenue of $410.73 million for the quarter, compared to analyst estimates of $412.12 million. During the same quarter in the previous year, the company posted $0.32 EPS. Bentley Systems’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bentley Systems, Incorporated will post 1.21 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 22nd. Bentley Systems’s payout ratio is 30.77%.

Hedge Funds Weigh In On Bentley Systems

A number of hedge funds have recently made changes to their positions in the stock. Childress Capital Advisors LLC bought a new position in Bentley Systems during the 3rd quarter worth approximately $295,000. Robeco Schweiz AG boosted its stake in shares of Bentley Systems by 66.3% in the 3rd quarter. Robeco Schweiz AG now owns 758,586 shares of the company’s stock valued at $24,237,000 after purchasing an additional 302,346 shares during the last quarter. Middleton & Co. Inc. MA increased its position in shares of Bentley Systems by 12.8% during the third quarter. Middleton & Co. Inc. MA now owns 20,977 shares of the company’s stock worth $670,000 after buying an additional 2,382 shares during the period. Yousif Capital Management LLC increased 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 during the period. Finally, Vest Financial LLC increased its position in shares of Bentley Systems by 10.2% during the third quarter. Vest Financial LLC now owns 20,988 shares of the company’s stock worth $671,000 after buying an additional 1,937 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.