Insider Selling: Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells 122,114 Shares of Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond B. Bentley sold 122,114 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $50.70, for a total value of $6,191,179.80. Following the completion of the transaction, the director now directly owns 15,347,424 shares in the company, valued at approximately $778,114,396.80. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Bentley Systems Trading Up 2.2%

Shares of Bentley Systems stock traded up $1.10 on Monday, reaching $51.83. The company had a trading volume of 1,862,034 shares, compared to its average volume of 1,229,109. The firm has a market cap of $15.13 billion, a price-to-earnings ratio of 65.61, a P/E/G ratio of 4.26 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49. The firm’s 50-day moving average price is $46.62 and its two-hundred day moving average price is $45.47. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $52.03.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $370.54 million during the quarter, compared to the consensus estimate of $366.76 million. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. Bentley Systems’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. As a group, research analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal 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 paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems’s payout ratio is currently 35.44%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group boosted their target price on shares of Bentley Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and reduced their price target for the company from $51.00 to $42.00 in a report on Friday, February 28th. Rosenblatt Securities decreased their price target on shares of Bentley Systems from $62.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Oppenheimer raised their price objective on Bentley Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, KeyCorp lifted their target price on Bentley Systems from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its stake in Bentley Systems by 9.8% in the fourth quarter. CIBC Asset Management Inc now owns 10,105 shares of the company’s stock worth $472,000 after purchasing an additional 902 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Bentley Systems by 31.1% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 47,613 shares of the company’s stock worth $2,224,000 after buying an additional 11,300 shares during the period. IFP Advisors Inc grew its position in shares of Bentley Systems by 4,627.3% during the 4th quarter. IFP Advisors Inc now owns 4,680 shares of the company’s stock worth $220,000 after buying an additional 4,581 shares in the last quarter. Impax Asset Management Group plc grew its position in shares of Bentley Systems by 41.9% during the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock worth $115,719,000 after buying an additional 736,369 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Bentley Systems by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock valued at $49,211,000 after buying an additional 97,950 shares during the period. 44.16% of the stock is currently owned by 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.