Bar Harbor Wealth Management Buys 10,301 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Bar Harbor Wealth Management lifted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 5.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 190,441 shares of the company's stock after buying an additional 10,301 shares during the quarter. Bar Harbor Wealth Management owned about 0.07% of Bentley Systems worth $7,492,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BSY. City Holding Co. acquired a new position in shares of Bentley Systems during the 1st quarter worth $26,000. Fifth Third Bancorp boosted its stake in shares of Bentley Systems by 106.6% in the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company's stock valued at $33,000 after purchasing an additional 435 shares during the last quarter. Private Trust Co. NA raised its position in shares of Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company's stock worth $47,000 after acquiring an additional 378 shares in the last quarter. Atala Financial Inc bought a new position in Bentley Systems during the fourth quarter worth $55,000. Finally, Ameriflex Group Inc. acquired a new position in Bentley Systems during the 4th quarter worth approximately $75,000. 44.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was 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 directly owns 68,064 shares in the company, valued at $3,068,325.12. The trade was a 15.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 20.56% of the stock is owned by corporate insiders.

Bentley Systems Stock Up 1.4%

Bentley Systems stock traded up $0.68 during trading hours on Monday, hitting $50.02. 2,316,305 shares of the stock traded hands, compared to its average volume of 1,465,233. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $52.12. The company has a market cap of $14.60 billion, a PE ratio of 45.06, a PEG ratio of 3.52 and a beta of 1.07. The firm's 50-day moving average price is $45.70 and its two-hundred day moving average price is $45.44.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. The company had revenue of $370.54 million for the quarter, compared to the consensus estimate of $366.76 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 EPS. On average, research analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced 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 dividend yield of 0.56%. The ex-dividend date was Tuesday, June 3rd. Bentley Systems's payout ratio is 35.44%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BSY shares. The Goldman Sachs Group downgraded Bentley Systems from a "neutral" rating to a "sell" rating and cut their price target for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Oppenheimer raised their price target on Bentley Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen lowered Bentley Systems from a "buy" rating to a "hold" rating in a report on Saturday. Robert W. Baird reduced their price objective 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $52.00.

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.