Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $17,740,945.88 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) Director Raymond B. Bentley sold 355,103 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.96, for a total transaction of $17,740,945.88. Following the completion of the transaction, the director now 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Bentley Systems Stock Up 0.6%

Shares of BSY traded up $0.32 during midday trading on Thursday, reaching $50.72. The stock had a trading volume of 2,420,466 shares, compared to its average volume of 1,232,422. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $52.12. The company's fifty day simple moving average is $46.26 and its two-hundred day simple moving average is $45.52. The company has a market cap of $14.80 billion, a price-to-earnings ratio of 53.96, a PEG 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.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results 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 net margin of 18.46% and a return on equity of 29.18%. The business had revenue of $370.54 million for the quarter, compared to the consensus estimate of $366.76 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The business's quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were given 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%.

Institutional Investors Weigh In On Bentley Systems

Several large investors have recently made changes to their positions in the business. Intech Investment Management LLC lifted its position in shares of Bentley Systems by 3.6% in the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock worth $340,000 after buying an additional 254 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Bentley Systems by 3.7% during the 1st quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company's stock valued at $333,000 after purchasing an additional 301 shares in the last quarter. Prentiss Smith & Co. Inc. grew its stake in Bentley Systems by 0.5% in the 1st quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company's stock valued at $2,524,000 after buying an additional 315 shares during the last quarter. Venturi Wealth Management LLC grew its position in Bentley Systems by 3.5% in the 1st quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company's stock worth $371,000 after purchasing an additional 315 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Bentley Systems by 3.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company's stock valued at $469,000 after acquiring an additional 317 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BSY shares. Rosenblatt Securities dropped their price objective on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Oppenheimer increased their price target on shares of Bentley Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. UBS Group increased their price target on shares of Bentley Systems from $48.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Mizuho dropped their price target on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group cut shares of Bentley Systems from a "neutral" rating to a "sell" rating and dropped their price target for the company from $51.00 to $42.00 in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.00.

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.