Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley Sells 69,573 Shares

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the transaction, the director now directly owns 16,705,028 shares in the company, valued at $779,623,656.76. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Bentley Systems Stock Up 0.7 %

Shares of BSY stock opened at $46.74 on Thursday. The stock’s 50 day simple moving average is $48.22 and its 200 day simple moving average is $48.96. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $13.59 billion, a price-to-earnings ratio of 42.11, a PEG ratio of 4.04 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. During the same quarter last year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently modified their holdings of BSY. Allspring Global Investments Holdings LLC raised its stake in Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after purchasing an additional 508 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Bentley Systems during the third quarter valued at about $30,000. Central Pacific Bank Trust Division lifted its stake in shares of Bentley Systems by 57.1% in 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. Acadian Asset Management LLC acquired a new stake in Bentley Systems during the second quarter worth about $43,000. Finally, Andra AP fonden bought a new position in Bentley Systems during the second quarter valued at about $54,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

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.