Bank of New York Mellon Corp Sells 58,430 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Bank of New York Mellon Corp reduced its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 5.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 995,332 shares of the company's stock after selling 58,430 shares during the period. Bank of New York Mellon Corp owned about 0.33% of Bentley Systems worth $39,156,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. lifted its stake in shares of Bentley Systems by 8,187,760.9% during the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after buying an additional 1,883,185 shares in the last quarter. Sone Capital Management LLC purchased a new stake in shares of Bentley Systems during the 4th quarter valued at approximately $17,884,000. SG Americas Securities LLC lifted its stake in shares of Bentley Systems by 449.7% during the 1st quarter. SG Americas Securities LLC now owns 384,291 shares of the company's stock valued at $15,118,000 after buying an additional 314,387 shares in the last quarter. BLI Banque de Luxembourg Investments purchased a new stake in shares of Bentley Systems during the 4th quarter valued at approximately $14,929,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Bentley Systems by 526.0% during the 4th quarter. Renaissance Technologies LLC now owns 274,800 shares of the company's stock valued at $12,833,000 after buying an additional 230,900 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

Bentley Systems Price Performance

Shares of Bentley Systems stock traded up $0.07 on Friday, hitting $57.65. 764,421 shares of the company traded hands, compared to its average volume of 1,269,279. The firm's 50-day simple moving average is $50.99 and its 200 day simple moving average is $46.45. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13. The company has a market cap of $16.82 billion, a P/E ratio of 72.88, a P/E/G ratio of 4.68 and a beta of 1.09. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $57.97.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. The firm had revenue of $370.54 million for the quarter, compared to analysts' expectations of $366.76 million. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The business's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $0.31 EPS. Analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Tuesday, June 3rd. Bentley Systems's dividend payout ratio (DPR) is presently 35.44%.

Analyst Upgrades and Downgrades

BSY has been the topic of a number of recent research reports. Wall Street Zen cut shares of Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday. Rosenblatt Securities dropped their price target on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. UBS Group increased their target price on shares of Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Mizuho lowered their target price on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada increased their target price on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $53.20.

Insider Activity

In other Bentley Systems news, insider David R. Shaman sold 19,348 shares of the firm's stock in a transaction on Monday, July 14th. The shares were 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 of the company's stock, valued at $36,887,808.64. This trade represents a 2.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Bentley sold 150,000 shares of the firm's stock in a transaction 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 completion of the sale, the director directly owned 3,859,327 shares in the company, valued at approximately $214,347,021.58. This trade represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,201,832 shares of company stock worth $61,414,013 in the last quarter. Insiders own 20.56% of the company's stock.

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.