Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond B. Bentley Sells 91,045 Shares

Bentley Systems, Incorporated (NASDAQ:BSY) Director Raymond B. Bentley sold 91,045 shares of the firm’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 value of $4,500,354.35. Following the transaction, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Bentley Systems Stock Performance

BSY traded up $0.15 during trading on Thursday, reaching $48.64. The company’s stock had a trading volume of 1,125,033 shares, compared to its average volume of 1,270,761. The company has a market capitalization of $14.03 billion, a price-to-earnings ratio of 45.42, a price-to-earnings-growth ratio of 4.30 and a beta of 1.03. The company’s fifty day moving average price is $49.18 and its 200-day moving average price is $50.74. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. The firm had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. On average, equities analysts forecast that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BSY shares. Mizuho lifted their target price on shares of Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Piper Sandler restated an “overweight” rating and issued a $63.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group decreased their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.57.

Hedge Funds Weigh In On Bentley Systems

A number of large investors have recently made changes to their positions in BSY. Allspring Global Investments Holdings LLC increased its holdings in Bentley Systems by 4,618.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after buying an additional 508 shares in the last quarter. GAMMA Investing LLC increased its stake in Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after purchasing an additional 273 shares in the last quarter. Blue Trust Inc. raised its holdings in Bentley Systems by 68,500.0% during the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after purchasing an additional 685 shares during the last quarter. Tortoise Investment Management LLC boosted its position in Bentley Systems by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after purchasing an additional 358 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Bentley Systems during the second quarter worth $43,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

About Bentley Systems

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.