Key Points
- Director Raymond Bentley sold 500,000 shares for $23.235 million at an average price of $46.47 under a pre-arranged Rule 10b5-1 plan. He retained 13,816,404 shares after the sale.
- Bentley Systems beat quarterly estimates, reporting EPS of $0.36 versus $0.33 expected and revenue of $421.51 million; revenue grew 12.2% year over year.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $46.67; nine analysts rate the stock Buy and four rate it Hold.
Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) Director Raymond Bentley sold 500,000 shares of Bentley Systems stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $46.47, for a total value of $23,235,000.00. Following the transaction, the director owned 13,816,404 shares of the company's stock, valued at $642,048,293.88. This represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Bentley Systems Price Performance
NASDAQ:BSY opened at $45.40 on Tuesday. The company's 50-day moving average is $35.77 and its two-hundred day moving average is $34.55. Bentley Systems, Incorporated has a 12-month low of $28.08 and a 12-month high of $48.17. The firm has a market cap of $13.19 billion, a price-to-earnings ratio of 44.51, a price-to-earnings-growth ratio of 2.72 and a beta of 0.98. 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 quarterly earnings results on Thursday, November 5th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $421.51 million during the quarter, compared to analysts' expectations of $420.69 million. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%. The firm's revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. Research analysts expect that Bentley Systems, Incorporated will post 1.20 EPS for the current year.
Bentley Systems Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 22nd. Bentley Systems's dividend payout ratio is 27.45%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in BSY. Arrowstreet Capital Limited Partnership grew its holdings in Bentley Systems by 253.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company's stock worth $167,924,000 after acquiring an additional 3,429,087 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Bentley Systems in the 2nd quarter valued at about $78,738,000. Madison Asset Management LLC acquired a new stake in shares of Bentley Systems in the 2nd quarter valued at about $40,807,000. Pictet Asset Management Holding SA raised its stake in shares of Bentley Systems by 19.9% in the 3rd quarter. Pictet Asset Management Holding SA now owns 5,235,307 shares of the company's stock valued at $167,260,000 after purchasing an additional 867,821 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Bentley Systems by 36.2% during the first quarter. Bessemer Group Inc. now owns 2,600,241 shares of the company's stock worth $91,320,000 after purchasing an additional 691,806 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. BMO Capital Markets raised their price target 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. Royal Bank Of Canada increased their price target on Bentley Systems from $48.00 to $52.00 and gave the company an "outperform" rating in a report on Friday. Cantor Fitzgerald raised their price objective on Bentley Systems from $42.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday. Piper Sandler restated an "overweight" rating and set a $45.00 price objective on shares of Bentley Systems in a research note on Friday, August 7th. Finally, Oppenheimer lifted their price objective on Bentley Systems from $43.00 to $52.00 and gave the stock an "outperform" rating in a report on Friday. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Bentley Systems currently has a consensus rating of "Moderate Buy" and an average price target of $46.67.
Get Our Latest Analysis on Bentley Systems
About Bentley Systems
(
Get Free Report)
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.
Founded in 1984 by brothers Keith and Barry Bentley, the company serves customers around the world.
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