J. Safra Sarasin Holding AG acquired a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,370 shares of the company's stock, valued at approximately $344,000.
Several other large investors have also made changes to their positions in the business. Axxcess Wealth Management LLC lifted its position in shares of Bentley Systems by 3.7% during the 1st quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company's stock worth $333,000 after purchasing an additional 301 shares during the last quarter. Prentiss Smith & Co. Inc. lifted its position in shares of Bentley Systems by 0.5% during the 1st quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company's stock worth $2,524,000 after purchasing an additional 315 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Bentley Systems by 3.5% during the 1st quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company's stock worth $371,000 after purchasing an additional 315 shares during the last quarter. Thrive Wealth Management LLC raised its holdings in Bentley Systems by 4.1% in the 2nd quarter. Thrive Wealth Management LLC now owns 8,101 shares of the company's stock valued at $437,000 after acquiring an additional 316 shares in the last quarter. Finally, Wealth Alliance LLC raised its holdings in Bentley Systems by 5.0% in the 1st quarter. Wealth Alliance LLC now owns 7,951 shares of the company's stock valued at $313,000 after acquiring an additional 380 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.
Analysts Set New Price Targets
BSY has been the subject of several recent research reports. Robert W. Baird set a $64.00 price target on Bentley Systems and gave the company an "outperform" rating in a report on Wednesday, July 30th. Rosenblatt Securities cut Bentley Systems from a "buy" rating to a "neutral" rating and upped their price target for the company from $53.00 to $58.00 in a report on Thursday, August 7th. Piper Sandler upped their price target on Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Wall Street Zen cut Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. Finally, Oppenheimer upped their price target on Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $56.60.
Check Out Our Latest Stock Analysis on BSY
Insider Buying and Selling
In related news, Director Keith A. Bentley sold 150,000 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the sale, the director directly owned 3,859,327 shares in the company, valued at $214,347,021.58. This represents a 3.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David R. Shaman sold 19,348 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $56.96, for a total value of $1,102,062.08. Following the sale, the insider owned 647,609 shares in the company, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 170,713 shares of company stock worth $9,511,690. 20.56% of the stock is owned by corporate insiders.
Bentley Systems Trading Down 1.7%
Shares of BSY opened at $54.99 on Friday. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $59.25. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. The stock has a 50 day simple moving average of $54.05 and a 200-day simple moving average of $50.03. The stock has a market cap of $16.06 billion, a PE ratio of 69.61, a PEG ratio of 4.44 and a beta of 1.07.
Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The business had revenue of $364.11 million during the quarter, compared to analysts' expectations of $363.51 million. During the same period in the prior year, the firm posted $0.31 EPS. Bentley Systems's quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.
Bentley Systems Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. Bentley Systems's dividend payout ratio is presently 35.44%.
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.
Further Reading
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