Brief Update on Bentley Systems, Incorporated (NASDAQ: BSY) Interests
There was a noticeable increase in the number of short positions taken in Bentley Systems, Incorporated stock in September (NASDAQ: BSY). As of September 30, there were a total of 7,600,000,000 shares available for short sale. Compared to the total number of 6,530,000 shares that were available the previous day, this represents an increase of 16.4%. The current short interest ratio is 9.9 days, calculated on the basis of an average daily trading volume of 767,700 shares. This was done so that the ratio could be expressed as a percentage. 3.9% of the company’s shares are sold on the short market.
On August 9, the latest quarterly earnings report from Bentley Systems, Inc., listed on NASDAQ under the symbol BSY, was made public. The company reported earnings per share for the quarter at $0.18, $0.05 higher than the consensus estimate of $0.13 among analysts. However, the company was only able to generate $268.30 million in revenue during the quarter, which is significantly lower than the $269.10 million that analysts had expected. Bentley Systems had a return on equity of 53.27% and the company’s net margin was 9.48%. . Compared to the same quarter of the previous year, the increase in turnover was 20.4% higher than expected. The company generated $0.20 per share in the same year. This year, Bentley Systems is expected to earn $0.66 per share, based on projections made by industry analysts. The price of a Bentley Systems share hit a new all-time high of $32.52 on Monday after rising $1.36, bringing the price to this level. The company’s shares were involved in 30,563 trades, with an average volume of 965,786 shares traded. It is currently valued at $9.00 billion, which can be directly attributed to the fact that the company has a PEG ratio of 5.23, a P/E ratio of 100.52 and a beta value of 1.14. Bentley Systems hit an all-time low of $26.32 in 52 weeks, while the company hit an all-time high of $62.37 in the same period. The stock price has a 50-day moving average of $35.75, and its price has a 200-day moving average of $36.39, respectively. BSYS has been in contact with various brokerage firms regarding their services. The debt ratio is 3.67, the quick ratio is 0.60 and the current ratio is 0.60. The three ratios add up to the same value. In a research report released on Monday, Mizuho downgraded its “buy” rating on Bentley Systems and lowered its price target for the company from $46.00 to $35.00.
These changes were made in response to the recent decline in the company’s stock price. TheStreet raised Bentley Systems’ rating from “d+” to “c-” on Friday, August 12. On Tuesday, August 16, Wolfe Research released a report on Bentley Systems. They gave the company an “outperform” rating and set their price target for the stock at $49.00 per share. In a research note published Aug. 10, Griffin Securities reiterated its recommendation to “hold” Bentley Systems stock in a research note. The rating focused on the company’s financial performance. The company was rated “Hold” by only one of the six analysts surveyed, while five recommended buying the stock. Information provided by Bloomberg.com indicates that the stock’s overall rating is “Moderate Buy” and that the current consensus price target for the company is set at $46.25.
Additionally, the company recently announced and paid a quarterly dividend, which was done on September 14 of this month. The dividend has been paid. On Thursday, September 8, dividend payments of $0.03 per share were paid to shareholders already of record. Dividend payments were made to shareholders who were already registered. Calculated on an annualized basis, this gives a dividend yield of 0.37%, which equates to a dividend payout of $0.12 per share. On September 7, the remainder of this dividend that had been withheld began to be distributed. In addition, Bentley Systems pays dividends equivalent to 38.71% of the company’s profits to its shareholders. According to reports from other media, the company’s chief information officer, David J. Hollister, sold 200,000 shares of the company on Wednesday, August 10.
Proceeds were calculated based on the number of shares that changed hands at an average price of $41.12 per share, resulting in a total of $8,224,000.00. As a result of the transaction, the executive now owns 2,105,519 shares of the company, which are worth $86,578,941.28 each. If you follow the link, which will take you to a legal filing filed with the SEC, you will have the opportunity to acquire additional information regarding the transaction. On September 9, company director Barry J. Bentley completed a transaction that resulted in the sale of 160,714 shares of the company. This is another development that is relevant to this topic. The stock was sold for $6,192,310.42, with the average price per share at $38.53 and earnings totaling $6,192,310.42. Following the completion of the transaction, the administrator now owns 13,383,457 shares of the company. The total value of these shares is $515,664,598.21. The sale was described in a document that was filed with the SEC. This document can be found on the SEC website.
On top of that, the company’s chief investment officer, David J. Hollister, sold 200,000 shares of the company on August 10. The price at which the shares were sold was $41.12 on average, bringing the total realized amount of the transaction to $8,224,000.00. After the completion of the sale, the manager now directly owns 2,105,519 shares. These shares have a value of approximately $86,578,941.28. Disclosures related to the sale can be found in this section of the website. According to the most recent financial filings, company insiders sold a total of 476,591 shares in the past ninety days, bringing the total value of those sales to $18,793,163. As a result, the shares of the company are held by insiders of the company at 22.53%.