Insider Selling: Bentley Systems (NASDAQ:BSY) CAO Sells 560 Shares of Stock

Bentley Systems, Incorporated (NASDAQ:BSY) CAO Thomas Trimback sold 560 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $43.02, for a total transaction of $24,091.20. Following the sale, the chief accounting officer directly owned 13,806 shares in the company, valued at $593,934.12. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Bentley Systems Price Performance

NASDAQ:BSY traded down $1.02 during trading hours on Wednesday, hitting $40.52. The stock had a trading volume of 1,303,708 shares, compared to its average volume of 1,715,636. The company has a 50 day simple moving average of $50.53 and a two-hundred day simple moving average of $51.81. The firm has a market capitalization of $11.83 billion, a price-to-earnings ratio of 48.24, a P/E/G ratio of 3.27 and a beta of 1.12. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $59.25.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $375.55 million for the quarter, compared to analysts’ expectations of $369.57 million. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Research analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Bentley Systems’s dividend payout ratio (DPR) is presently 33.33%.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Bentley Systems by 10.7% during the 3rd quarter. Vanguard Group Inc. now owns 18,607,657 shares of the company’s stock valued at $957,922,000 after buying an additional 1,792,591 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Bentley Systems by 1.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company’s stock valued at $636,027,000 after buying an additional 160,496 shares during the last quarter. Swedbank AB raised its stake in Bentley Systems by 2.3% during the third quarter. Swedbank AB now owns 7,250,495 shares of the company’s stock valued at $373,255,000 after buying an additional 160,594 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Bentley Systems by 5.0% in the second quarter. Geode Capital Management LLC now owns 3,230,547 shares of the company’s stock worth $173,877,000 after acquiring an additional 155,078 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Bentley Systems by 207.6% in the second quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company’s stock worth $165,259,000 after acquiring an additional 2,066,725 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BSY shares. Weiss Ratings reissued a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, October 8th. Piper Sandler decreased their price objective on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. cut their price target on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. UBS Group raised their target price on shares of Bentley Systems from $53.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $58.00 price target on shares of Bentley Systems in a report on Thursday, November 6th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and an average price target of $56.73.

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.