Bentley Systems, Incorporated (NASDAQ:BSY) Director Sells $4,500,354.35 in Stock

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the transaction, the director now owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Bentley Systems Trading Up 0.3 %

Shares of Bentley Systems stock opened at $48.64 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The firm has a market capitalization of $14.03 billion, a price-to-earnings ratio of 45.46, a PEG ratio of 4.30 and a beta of 1.03. The firm’s 50 day simple moving average is $49.16 and its two-hundred day simple moving average is $50.72.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. The business had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. Analysts predict that Bentley Systems, Incorporated will post 0.9 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on BSY. Piper Sandler reiterated an “overweight” rating and set a $63.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group reduced their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.57.

Institutional Trading of Bentley Systems

Several large investors have recently made changes to their positions in the business. Forsta AP Fonden boosted its holdings in Bentley Systems by 45.0% during the first quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock worth $3,316,000 after buying an additional 19,700 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in Bentley Systems during the first quarter worth $935,000. Vanguard Group Inc. boosted its holdings in Bentley Systems by 0.6% during the first quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after buying an additional 134,516 shares in the last quarter. Bridgewater Associates LP boosted its holdings in Bentley Systems by 10.5% during the fourth quarter. Bridgewater Associates LP now owns 325,786 shares of the company’s stock worth $17,000,000 after buying an additional 30,982 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new stake in Bentley Systems during the first quarter worth $608,000. 44.16% of the stock is owned by hedge funds and other 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.