Keith A. Bentley Sells 118,949 Shares of Bentley Systems, Incorporated (NASDAQ:BSY) Stock

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

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $55.48 on Friday. The firm has a market cap of $15.86 billion, a PE ratio of 56.04, a PEG ratio of 5.39 and a beta of 1.08. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72. Bentley Systems, Incorporated has a 1-year low of $44.46 and a 1-year high of $55.72. The company has a fifty day moving average price of $51.09 and a 200 day moving average price of $50.94.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $310.64 million during the quarter, compared to analyst estimates of $313.67 million. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 EPS. Research analysts predict that Bentley Systems, Incorporated will post 0.82 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were paid a $0.06 dividend. The ex-dividend date was Tuesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.43%. Bentley Systems’s dividend payout ratio is presently 24.24%.

Hedge Funds Weigh In On Bentley Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in Bentley Systems in the 4th quarter worth $6,382,000. Handelsbanken Fonder AB boosted its stake in shares of Bentley Systems by 5.0% during the 4th quarter. Handelsbanken Fonder AB now owns 793,900 shares of the company’s stock worth $41,426,000 after buying an additional 38,120 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Bentley Systems by 2.8% during the 4th quarter. Raymond James & Associates now owns 1,119,244 shares of the company’s stock worth $58,402,000 after buying an additional 30,143 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Bentley Systems by 70.0% during the 3rd quarter. Victory Capital Management Inc. now owns 159,748 shares of the company’s stock worth $8,013,000 after buying an additional 65,780 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Bentley Systems by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock worth $1,091,604,000 after buying an additional 556,363 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $63.00 target price (up from $60.00) on shares of Bentley Systems in a report on Wednesday. Mizuho upped their target price on shares of Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, February 28th. Robert W. Baird boosted their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.50.

Bentley Systems Company Profile

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.