Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley Sells 17,021 Shares of Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Keith A. Bentley sold 17,021 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bentley Systems Trading Down 0.1 %

Shares of Bentley Systems stock opened at $54.37 on Friday. Bentley Systems, Incorporated has a 12-month low of $40.92 and a 12-month high of $55.37. The company has a market cap of $15.54 billion, a price-to-earnings ratio of 54.92, a PEG ratio of 5.48 and a beta of 1.10. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72. The company’s 50-day moving average price is $50.78 and its 200-day moving average price is $50.89.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The firm had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts expect 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. This is an increase from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is currently 24.24%.

Analysts Set New Price Targets

Several research firms recently weighed in on BSY. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. Rosenblatt Securities upgraded shares of Bentley Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $54.00 to $60.00 in a research report on Monday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Bentley Systems in a report on Wednesday, February 28th. Robert W. Baird upped their price objective 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, William Blair began coverage on shares of Bentley Systems in a report on Thursday, March 28th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.44.

Institutional Investors Weigh In On Bentley Systems

A number of institutional investors and hedge funds have recently bought and sold shares of BSY. California Public Employees Retirement System raised its stake in Bentley Systems by 223.4% in the third quarter. California Public Employees Retirement System now owns 1,045,289 shares of the company’s stock valued at $52,432,000 after purchasing an additional 722,046 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Bentley Systems by 4.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock valued at $677,987,000 after purchasing an additional 578,512 shares in the last quarter. Vanguard Group Inc. raised its stake in Bentley Systems by 2.6% in the third quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after purchasing an additional 556,363 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Bentley Systems by 43.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock valued at $54,656,000 after purchasing an additional 327,577 shares in the last quarter. Finally, Norges Bank purchased a new stake in Bentley Systems in the fourth quarter valued at approximately $16,424,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

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.