Raymond B. Bentley Sells 355,103 Shares of Bentley Systems, Incorporated (NASDAQ:BSY) Stock

Bentley Systems, Incorporated (NASDAQ:BSYGet Free Report) Director Raymond B. Bentley sold 355,103 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $49.96, for a total value of $17,740,945.88. Following the completion of the sale, the director now directly owns 15,992,321 shares of the company’s stock, valued at approximately $798,976,357.16. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $50.72 on Friday. The stock has a fifty day simple moving average of $46.44 and a two-hundred day simple moving average of $45.52. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $52.12. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of 64.20, a price-to-earnings-growth ratio of 4.26 and a beta of 1.07. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13.

Bentley Systems (NASDAQ:BSYGet Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The business had revenue of $370.54 million during the quarter, compared to analyst estimates of $366.76 million. During the same period in the prior year, the company earned $0.31 earnings per share. Bentley Systems’s revenue was up 9.7% compared to the same quarter last year. Analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems’s dividend payout ratio (DPR) is 35.44%.

Hedge Funds Weigh In On Bentley Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. City Holding Co. bought a new position in Bentley Systems during the first quarter valued at $26,000. Geneos Wealth Management Inc. boosted its holdings in shares of Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares during the period. Twin Tree Management LP boosted its holdings in shares of Bentley Systems by 361.9% in the first quarter. Twin Tree Management LP now owns 739 shares of the company’s stock worth $29,000 after acquiring an additional 579 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock worth $30,000 after acquiring an additional 717 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Bentley Systems by 106.6% in the first quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock worth $33,000 after acquiring an additional 435 shares during the period. 44.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Rosenblatt Securities lowered their price objective on Bentley Systems from $62.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Mizuho decreased their price target on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Wall Street Zen downgraded Bentley Systems from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Royal Bank Of Canada increased their price target on Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, UBS Group increased their price target on Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Check Out Our Latest Report on Bentley Systems

Bentley Systems Company Profile

(Get Free Report)

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.

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