Needham Investment Management LLC raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 132.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,500 shares of the company's stock after acquiring an additional 55,500 shares during the quarter. Needham Investment Management LLC's holdings in Bentley Systems were worth $4,553,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in BSY. Charles Schwab Investment Management Inc. raised its holdings in Bentley Systems by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company's stock valued at $49,161,000 after buying an additional 15,372 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Bentley Systems during the fourth quarter worth $809,000. Principal Financial Group Inc. grew its stake in shares of Bentley Systems by 20.5% in the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company's stock worth $10,396,000 after purchasing an additional 34,871 shares during the last quarter. Bar Harbor Wealth Management acquired a new stake in shares of Bentley Systems in the fourth quarter valued at about $8,413,000. Finally, Bank of New York Mellon Corp raised its holdings in Bentley Systems by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company's stock worth $49,211,000 after purchasing an additional 97,950 shares during the last quarter. Institutional investors own 44.16% of the company's stock.
Insider Activity
In related news, CRO Brock Ballard sold 12,363 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the completion of the sale, the executive now owns 68,064 shares in the company, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 20.56% of the stock is currently owned by corporate insiders.
Bentley Systems Stock Down 0.5%
Shares of NASDAQ BSY traded down $0.26 during trading on Friday, hitting $47.97. The stock had a trading volume of 1,010,692 shares, compared to its average volume of 1,213,827. The firm has a fifty day moving average of $42.63 and a two-hundred day moving average of $45.56. The company has a market capitalization of $14.00 billion, a PE ratio of 43.22, a PEG ratio of 3.52 and a beta of 1.05. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $57.19.
Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. The company had revenue of $370.54 million during the quarter, compared to the consensus estimate of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, equities research analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.
Bentley Systems Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were issued a $0.07 dividend. The ex-dividend date was Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.58%. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio is currently 35.44%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Royal Bank of Canada raised their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Mizuho decreased their target price on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. KeyCorp upped their price target on Bentley Systems from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. UBS Group raised their price objective on Bentley Systems from $48.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Robert W. Baird lowered their target price on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Bentley Systems has a consensus rating of "Moderate Buy" and a consensus target price of $52.00.
Read Our Latest Stock Report on BSY
About Bentley Systems
(
Free Report)
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.
Read More
Before you consider Bentley Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bentley Systems wasn't on the list.
While Bentley Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
