Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 995,332 shares of the company's stock after selling 58,430 shares during the period. Bank of New York Mellon Corp owned 0.33% of Bentley Systems worth $39,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC grew its position in Bentley Systems by 3.6% during the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock worth $340,000 after purchasing an additional 254 shares during the last quarter. Prentiss Smith & Co. Inc. increased its holdings in shares of Bentley Systems by 0.5% in the first quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company's stock valued at $2,524,000 after purchasing an additional 315 shares during the period. Quantinno Capital Management LP raised its stake in shares of Bentley Systems by 7.2% during the fourth quarter. Quantinno Capital Management LP now owns 5,261 shares of the company's stock worth $246,000 after purchasing an additional 354 shares during the last quarter. Prudential PLC grew its position in Bentley Systems by 0.6% in the 4th quarter. Prudential PLC now owns 63,008 shares of the company's stock valued at $2,942,000 after buying an additional 371 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Bentley Systems by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 61,619 shares of the company's stock valued at $2,878,000 after buying an additional 390 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Bentley Systems news, Director Raymond B. Bentley sold 355,103 shares of Bentley Systems stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $49.96, for a total value of $17,740,945.88. Following the completion of the sale, the director directly owned 15,992,321 shares of the company's stock, valued at approximately $798,976,357.16. The trade was a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the firm's stock in a transaction 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 $36,887,808.64. This trade represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,201,832 shares of company stock worth $61,414,013. Company insiders own 20.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wall Street Zen cut shares of Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday. UBS Group boosted their target price on Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Rosenblatt Securities reduced their price target on Bentley Systems from $62.00 to $53.00 and set a "buy" rating for the company in a report on Monday, May 5th. Mizuho dropped their price objective on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, KeyCorp raised their target price on Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.20.

Bentley Systems Price Performance

BSY traded up $0.07 during midday trading on Thursday, reaching $57.58. 1,423,220 shares of the company's stock were exchanged, compared to its average volume of 1,269,583. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $57.98. The stock has a market capitalization of $16.80 billion, a PE ratio of 72.89, a P/E/G ratio of 4.67 and a beta of 1.09. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49. The business's 50-day moving average price is $50.78 and its 200 day moving average price is $46.38.

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

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems's dividend payout ratio is presently 35.44%.

About Bentley Systems

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.