Key Points
- Director Raymond Bentley sold 344,203 shares for about $13.85 million, under a pre-arranged Rule 10b5-1 plan. He retained 14.3 million shares, worth approximately $576.1 million after the sale.
- Bentley Systems’ latest reported quarterly EPS of $0.35 beat analyst expectations of $0.32, while revenue of $410.7 million came in slightly below estimates; revenue rose 12.8% year over year.
- Analysts’ consensus rating was Moderate Buy, with a $44.77 average price target. The company also paid a quarterly dividend of $0.07 per share.
Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) Director Raymond Bentley sold 344,203 shares of the firm's stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $40.24, for a total value of $13,850,728.72. Following the sale, 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 available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Bentley Systems Stock Down 0.6%
Shares of BSY stock opened at $42.13 on Wednesday. The stock has a 50 day moving average of $35.18 and a 200 day moving average of $34.43. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market cap of $12.24 billion, a P/E ratio of 46.30, a P/E/G ratio of 2.64 and a beta of 0.98. Bentley Systems, Incorporated has a twelve month low of $28.08 and a twelve month high of $50.52.
Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%. The company had revenue of $410.73 million during the quarter, compared to the consensus estimate of $412.12 million. During the same period in the previous year, the company posted $0.32 earnings per share. Bentley Systems's revenue for the quarter was up 12.8% on a year-over-year basis. As a group, sell-side analysts expect that Bentley Systems, Incorporated will post 1.21 EPS for the current year.
Bentley Systems Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 22nd. Bentley Systems's payout ratio is currently 30.77%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CX Institutional raised its position in Bentley Systems by 898.9% during the second quarter. CX Institutional now owns 939 shares of the company's stock worth $28,000 after acquiring an additional 845 shares during the period. Harbor Investment Advisory LLC acquired a new position in shares of Bentley Systems during the 2nd quarter worth about $30,000. Summit Securities Group LLC purchased a new position in Bentley Systems in the 1st quarter valued at about $34,000. Parallel Advisors LLC lifted its stake in Bentley Systems by 49.5% in the 1st quarter. Parallel Advisors LLC now owns 2,445 shares of the company's stock valued at $86,000 after buying an additional 810 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Bentley Systems by 8.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,528 shares of the company's stock worth $145,000 after buying an additional 366 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on BSY. Piper Sandler reissued an "overweight" rating and set a $45.00 price target on shares of Bentley Systems in a report on Friday, August 7th. BMO Capital Markets lifted their price objective on shares of Bentley Systems from $41.00 to $43.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Cantor Fitzgerald upped their price objective on shares of Bentley Systems from $37.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, October 16th. Rosenblatt Securities restated a "buy" rating and set a $50.00 target price on shares of Bentley Systems in a research report on Tuesday, October 27th. Finally, Weiss Ratings raised Bentley Systems from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, October 19th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Bentley Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.77.
Get Our Latest Research Report on BSY
Bentley Systems Company Profile
(
Get Free Report)
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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