Key Points
- Director Keith Bentley sold 100,000 shares for $4.518 million under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 2.6% to about 3.75 million shares.
- Bentley Systems beat quarterly earnings expectations, reporting EPS of $0.36 versus $0.33 estimated and revenue of $421.51 million; revenue rose 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 Keith Bentley sold 100,000 shares of the firm's stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $45.18, for a total value of $4,518,000.00. Following the completion of the sale, the director directly owned 3,745,254 shares in the company, valued at $169,210,575.72. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Bentley Systems Stock Down 0.6%
Shares of NASDAQ:BSY opened at $44.19 on Friday. The stock's 50-day moving average is $36.30 and its 200 day moving average is $34.63. The company has a market cap of $12.86 billion, a PE ratio of 43.32, a P/E/G ratio of 2.76 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.65 and a quick ratio of 0.65. Bentley Systems, Incorporated has a 1 year low of $28.08 and a 1 year high of $48.17.
Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The business 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 29.99% and a net margin of 19.57%. The business's revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 1.20 EPS for the current year.
Bentley Systems Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, September 22nd. Bentley Systems's dividend payout ratio is currently 27.45%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on BSY shares. Cantor Fitzgerald lifted their price target on shares of Bentley Systems from $42.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, November 6th. Oppenheimer upped their price objective on shares of Bentley Systems from $43.00 to $52.00 and gave the stock an "outperform" rating in a report on Friday, November 6th. Royal Bank Of Canada raised their target price on shares of Bentley Systems from $48.00 to $52.00 and gave the stock an "outperform" rating in a research report on Friday, November 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $45.00 target price on shares of Bentley Systems in a research report on Friday, August 7th. Finally, Weiss Ratings raised shares of Bentley Systems from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, October 19th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Bentley Systems presently has a consensus rating of "Moderate Buy" and an average price target of $46.67.
Check Out Our Latest Stock Report on Bentley Systems
Hedge Funds Weigh In On Bentley Systems
A number of institutional investors have recently added to or reduced their stakes in BSY. Wellington Management Group LLP purchased a new position in Bentley Systems during the 2nd quarter valued at about $6,975,000. Groupe la Francaise boosted its stake in Bentley Systems by 46.1% during the second quarter. Groupe la Francaise now owns 159,678 shares of the company's stock worth $4,776,000 after acquiring an additional 50,412 shares in the last quarter. SummitTX Capital L.P. boosted its stake in Bentley Systems by 74.9% during the first quarter. SummitTX Capital L.P. now owns 104,520 shares of the company's stock worth $3,671,000 after acquiring an additional 44,774 shares in the last quarter. Whetstone Capital Advisors LLC purchased a new stake in Bentley Systems in the second quarter worth about $2,935,000. Finally, Bank of New York Mellon Corp purchased a new stake in Bentley Systems in the second quarter worth about $78,738,000. Institutional investors own 44.16% of the company's stock.
Bentley Systems Company Profile
(
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.
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