Bentley Systems (NASDAQ:BSY) Director Raymond Bentley Sells 344,203 Shares of Company Stock

Key Points

• Director Raymond Bentley sold 344,203 shares for about $13.85 million at an average price of $40.24, under a pre-arranged Rule 10b5-1 plan. He retained 14.3 million shares after the sale.
• Bentley Systems reported quarterly EPS of $0.35, beating the $0.32 consensus, while revenue of $410.73 million came in slightly below estimates; revenue increased 12.8% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $44.77. Shares were trading at $42.13 in the article.

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) Director Raymond Bentley sold 344,203 shares of the company's stock in a transaction on Friday, October 30th. The stock was sold at an average price of $40.24, for a total transaction of $13,850,728.72. Following the transaction, the director directly owned 14,316,404 shares in the company, valued at approximately $576,092,096.96. This trade represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Bentley Systems Price Performance

Shares of BSY traded down $0.27 during trading hours on Tuesday, reaching $42.13. The company had a trading volume of 3,841,697 shares, compared to its average volume of 2,841,477. 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, Incorporated has a 12-month low of $28.08 and a 12-month high of $50.52. The firm has a 50 day simple moving average of $35.09 and a 200-day simple moving average of $34.41. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 46.30, a PEG ratio of 2.46 and a beta of 0.99.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The company had revenue of $410.73 million for the quarter, compared to analyst estimates of $412.12 million. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The firm's revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. Research analysts expect that Bentley Systems, Incorporated will post 1.21 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd were given a $0.07 dividend. The ex-dividend date was Tuesday, September 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Bentley Systems's dividend payout ratio (DPR) is currently 30.77%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Yousif Capital Management LLC raised its holdings in shares of Bentley Systems by 0.7% in the 3rd quarter. Yousif Capital Management LLC now owns 41,229 shares of the company's stock worth $1,317,000 after purchasing an additional 298 shares during the period. Diversify Advisory Services LLC lifted its stake in shares of Bentley Systems by 1.6% in the 3rd quarter. Diversify Advisory Services LLC now owns 20,930 shares of the company's stock valued at $669,000 after purchasing an additional 327 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Bentley Systems by 8.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,528 shares of the company's stock valued at $145,000 after purchasing an additional 366 shares in the last quarter. Liontrust Investment Partners LLP grew its holdings in shares of Bentley Systems by 7.4% during the 1st quarter. Liontrust Investment Partners LLP now owns 7,349 shares of the company's stock worth $258,000 after purchasing an additional 505 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in shares of Bentley Systems by 0.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 67,528 shares of the company's stock worth $2,156,000 after purchasing an additional 534 shares during the period. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BSY. Cantor Fitzgerald raised their price objective on shares of Bentley Systems from $37.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, October 16th. Rosenblatt Securities reiterated a "buy" rating and set a $50.00 target price on shares of Bentley Systems in a report on Tuesday, October 27th. Piper Sandler reissued an "overweight" rating and set a $45.00 price target on shares of Bentley Systems in a research report on Friday, August 7th. Weiss Ratings raised Bentley Systems from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, October 19th. Finally, BMO Capital Markets boosted their price target on Bentley Systems from $41.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Bentley Systems presently has a consensus rating of "Moderate Buy" and an average target price of $44.77.

Bentley Systems Company Profile

Bentley Systems, Incorporated is a software company that develops solutions for the design, construction, and operation of infrastructure. Its customers include engineers, architects, geospatial professionals, construction firms, and infrastructure owner-operators in sectors such as transportation, water, utilities, industrial facilities, and buildings.

The company's product portfolio includes MicroStation for infrastructure design, ProjectWise for project collaboration, AssetWise for asset performance and operations, and SYNCHRO for construction management.

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