Bentley Systems, Incorporated (NASDAQ:BSY) Insider Sells $1,053,196.88 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) insider David R. Shaman sold 19,156 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $54.98, for a total value of $1,053,196.88. Following the completion of the sale, the insider owned 670,558 shares of the company's stock, valued at approximately $36,867,278.84. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Bentley Systems Stock Up 0.7%

BSY stock traded up $0.39 during mid-day trading on Tuesday, hitting $55.90. 1,846,037 shares of the company were exchanged, compared to its average volume of 1,247,889. The company has a market capitalization of $16.31 billion, a PE ratio of 70.76, a price-to-earnings-growth ratio of 4.50 and a beta of 1.09. The firm has a fifty day simple moving average of $48.98 and a 200 day simple moving average of $45.92. 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, Incorporated has a twelve month low of $36.51 and a twelve month high of $56.10.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $366.76 million. During the same period last year, the firm earned $0.31 earnings per share. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company 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 dividend yield of 0.50%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems's dividend payout ratio is currently 35.44%.

Wall Street Analyst Weigh In

BSY has been the subject of several analyst reports. Oppenheimer upped their target price on Bentley Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Mizuho decreased their price target on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Rosenblatt Securities dropped their price objective 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. Wall Street Zen upgraded shares of Bentley Systems from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, KeyCorp lifted their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Bentley Systems has an average rating of "Moderate Buy" and an average target price of $52.30.

Hedge Funds Weigh In On Bentley Systems

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Bentley Systems by 5.3% during the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company's stock valued at $708,114,000 after acquiring an additional 898,115 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Bentley Systems by 1.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company's stock valued at $636,027,000 after purchasing an additional 160,496 shares during the last quarter. Swedbank AB boosted its stake in Bentley Systems by 1.6% during the 1st quarter. Swedbank AB now owns 7,119,208 shares of the company's stock valued at $280,070,000 after purchasing an additional 111,884 shares during the period. Pictet Asset Management Holding SA grew its position in Bentley Systems by 0.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company's stock worth $262,209,000 after purchasing an additional 24,019 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Bentley Systems by 8,187,760.9% in the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after purchasing an additional 1,883,185 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.

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