Bentley Systems, Incorporated (NASDAQ:BSY) Short Interest Update

Bentley Systems, Incorporated (NASDAQ:BSY) saw a large drop in short interest in July. As of July 15th, there was short interest totalling 7,580,000 shares, a drop of 9.0% from the June 30th total of 8,330,000 shares. Currently, 5.9% of the shares of the stock are short sold. Based on an average daily volume of 1,360,000 shares, the short-interest ratio is presently 5.6 days.

Bentley Systems Trading Down 2.3 %

Shares of NASDAQ:BSY traded down $1.14 during trading on Thursday, reaching $47.60. 710,042 shares of the company traded hands, compared to its average volume of 1,309,624. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 44.09, a P/E/G ratio of 4.23 and a beta of 1.03. Bentley Systems has a 52-week low of $44.76 and a 52-week high of $57.19. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.53. The business’s fifty day moving average is $50.02 and its 200-day moving average is $51.01.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $337.76 million during the quarter, compared to analyst estimates of $335.00 million. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. As a group, analysts forecast that Bentley Systems will post 0.85 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, June 4th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Tuesday, June 4th. Bentley Systems’s payout ratio is 22.43%.

Insider Activity

In related news, Director Keith A. Bentley sold 59,420 shares of Bentley Systems stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $55.01, for a total transaction of $3,268,694.20. Following the sale, the director now directly owns 16,972,383 shares in the company, valued at approximately $933,650,788.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Keith A. Bentley sold 118,949 shares of Bentley Systems stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total value of $6,543,384.49. Following the completion of the sale, the director now owns 17,031,803 shares in the company, valued at approximately $936,919,483.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Bentley sold 59,420 shares of Bentley Systems stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $55.01, for a total transaction of $3,268,694.20. Following the completion of the sale, the director now owns 16,972,383 shares of the company’s stock, valued at approximately $933,650,788.83. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Bentley Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSY. CIBC Asset Management Inc raised its holdings in Bentley Systems by 25.4% in the second quarter. CIBC Asset Management Inc now owns 8,825 shares of the company’s stock worth $436,000 after purchasing an additional 1,787 shares in the last quarter. GraniteShares Advisors LLC bought a new position in Bentley Systems in the second quarter worth $443,000. WR Wealth Planners LLC raised its holdings in Bentley Systems by 4.5% in the second quarter. WR Wealth Planners LLC now owns 6,435 shares of the company’s stock worth $318,000 after purchasing an additional 275 shares in the last quarter. nVerses Capital LLC raised its holdings in Bentley Systems by 1,800.0% in the second quarter. nVerses Capital LLC now owns 1,900 shares of the company’s stock worth $94,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its holdings in Bentley Systems by 22.9% in the second quarter. Mizuho Markets Americas LLC now owns 520,684 shares of the company’s stock worth $25,701,000 after purchasing an additional 97,000 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

BSY has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $60.00 price objective on shares of Bentley Systems in a report on Tuesday, April 30th. Piper Sandler reaffirmed an “overweight” rating and set a $63.00 price objective (up from $60.00) on shares of Bentley Systems in a report on Wednesday, May 8th. Finally, Mizuho lifted their price objective on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

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.