Raymond B. Bentley Sells 273,094 Shares of Bentley Systems, Incorporated (NASDAQ:BSY) Stock

Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) Director Raymond B. Bentley sold 273,094 shares of Bentley Systems stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $50.30, for a total transaction of $13,736,628.20. Following the transaction, the director now owns 15,719,227 shares of the company's stock, valued at approximately $790,677,118.10. The trade was a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Bentley Systems Stock Up 0.6%

BSY stock traded up $0.32 during midday trading on Thursday, reaching $50.72. The company 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 has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $14.80 billion, a P/E ratio of 53.96, a PEG ratio of 4.26 and a beta of 1.07. The company has a 50 day moving average of $46.26 and a two-hundred day moving average of $45.52.

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

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis 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 presently 35.44%.

Institutional Trading of Bentley Systems

A number of hedge funds have recently bought and sold shares of BSY. City Holding Co. bought a new stake in Bentley Systems in the 1st quarter valued at $26,000. Geneos Wealth Management Inc. lifted its holdings in shares of Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock worth $26,000 after acquiring an additional 627 shares during the period. Twin Tree Management LP lifted its position in shares of Bentley Systems by 361.9% in the first quarter. Twin Tree Management LP now owns 739 shares of the company's stock worth $29,000 after purchasing an additional 579 shares in the last quarter. Larson Financial Group LLC raised its position in Bentley Systems by 1,707.1% during the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock worth $30,000 after acquiring an additional 717 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock worth $33,000 after acquiring an additional 435 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

BSY has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen downgraded shares of Bentley Systems from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. The Goldman Sachs Group lowered shares of Bentley Systems from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $51.00 to $42.00 in a report on Friday, February 28th. Royal Bank Of Canada upped their target price on shares of Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Rosenblatt Securities cut their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

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.