Bentley Systems (NASDAQ:BSY) CFO Sells $450,000.00 in Stock

Key Points

• Bentley Systems CFO Werner Andre sold 10,000 shares for $450,000 at an average price of $45, leaving him with 367,843 shares.
• The company beat quarterly estimates, reporting EPS of $0.36 versus $0.33 expected and revenue of $421.51 million; revenue rose 12.2% year over year.
• Analysts maintain a “Moderate Buy” consensus, with a $46.67 average price target; several firms recently raised their targets to $52–$53.

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) CFO Werner Andre sold 10,000 shares of the company's stock in a transaction on Friday, November 6th. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief financial officer directly owned 367,843 shares in the company, valued at approximately $16,552,935. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Bentley Systems Stock Performance

BSY traded down $0.16 during midday trading on Tuesday, hitting $45.24. 2,803,362 shares of the company were exchanged, compared to its average volume of 2,896,126. The company's 50 day simple moving average is $35.77 and its 200 day simple moving average is $34.55. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 44.35, a price-to-earnings-growth ratio of 2.72 and a beta of 0.98. Bentley Systems, Incorporated has a 1-year low of $28.08 and a 1-year high of $48.17. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $421.51 million for the quarter, compared to analyst estimates of $420.69 million. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%. Bentley Systems's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. As a group, sell-side analysts predict that Bentley Systems, Incorporated will post 1.20 earnings per share for the current year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 22nd. Bentley Systems's payout ratio is 27.45%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Voya Investment Management LLC lifted its stake in Bentley Systems by 9.3% in the 3rd quarter. Voya Investment Management LLC now owns 117,391 shares of the company's stock worth $3,751,000 after purchasing an additional 10,025 shares in the last quarter. Public Sector Pension Investment Board purchased a new stake in shares of Bentley Systems in the third quarter valued at approximately $3,537,000. South Dakota Investment Council purchased a new stake in shares of Bentley Systems in the third quarter valued at approximately $914,000. Montanaro Asset Management Ltd increased its holdings in shares of Bentley Systems by 1.5% in the third quarter. Montanaro Asset Management Ltd now owns 386,383 shares of the company's stock valued at $12,345,000 after purchasing an additional 5,550 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Bentley Systems by 17.0% in the third quarter. Bessemer Group Inc. now owns 2,404,153 shares of the company's stock valued at $76,813,000 after purchasing an additional 348,786 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BSY shares. Rosenblatt Securities increased their price target on shares of Bentley Systems from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Friday. Royal Bank Of Canada lifted their price objective on shares of Bentley Systems from $48.00 to $52.00 and gave the company an "outperform" rating in a report on Friday. Oppenheimer upped their price objective on shares of Bentley Systems from $43.00 to $52.00 and gave the stock an "outperform" rating in a research report on Friday. BMO Capital Markets increased their target price on shares of Bentley Systems from $41.00 to $43.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded Bentley Systems from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, October 19th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.67.

About Bentley Systems

Bentley Systems develops software for professionals who design, build, and operate infrastructure. Its customers include engineering firms, architects, construction companies, and infrastructure owners and operators working on projects such as roads, railways, buildings, utilities, and industrial facilities. The company's products support computer-aided design, project collaboration, infrastructure asset management, and digital twin development. Its software portfolio includes MicroStation for design and modeling, ProjectWise for project information management, and the iTwin platform for creating and working with digital representations of infrastructure assets.

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