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

Bentley Systems, Incorporated (NASDAQ:BSY) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totalling 7,150,000 shares, a drop of 10.4% from the September 15th total of 7,980,000 shares. Approximately 5.2% of the shares of the stock are short sold. Based on an average daily volume of 1,000,000 shares, the short-interest ratio is presently 7.2 days.

Insider Activity

In related news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the sale, the director now owns 12,298,230 shares in the company, valued at approximately $617,371,146. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the transaction, the director now owns 12,298,230 shares in the company, valued at $617,371,146. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the director now directly owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 226,032 shares of company stock worth $11,248,676 over the last 90 days. Corporate insiders own 21.12% of the company’s stock.

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 boosted its stake in Bentley Systems by 4,618.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after purchasing an additional 508 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Bentley Systems by 90.1% in the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after buying an additional 273 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of 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 buying an additional 685 shares during the period. Central Pacific Bank Trust Division grew its holdings in shares of Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after buying an additional 276 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its position in shares of Bentley Systems by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after acquiring an additional 358 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Stock Down 0.6 %

BSY traded down $0.29 on Wednesday, hitting $49.70. The company had a trading volume of 408,336 shares, compared to its average volume of 1,246,940. The stock has a market capitalization of $14.34 billion, a price-to-earnings ratio of 46.45, a P/E/G ratio of 4.09 and a beta of 1.03. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a fifty day moving average price of $49.74 and a 200-day moving average price of $50.50. Bentley Systems has a 12-month low of $43.82 and a 12-month high of $57.19.

Bentley Systems (NASDAQ:BSY) last released 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 business had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. Analysts predict that Bentley Systems will post 0.9 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio is currently 22.43%.

Analyst Upgrades and Downgrades

BSY has been the topic of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $63.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group lowered their price target on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.57.

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.