Bentley Systems, Incorporated $BSY Position Lessened by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC cut its stake in Bentley Systems by 35.9% in the first quarter, leaving it with 67,725 shares valued at about $2.38 million.
• Analyst sentiment is mixed: recent moves included a downgrade from Weiss Ratings and lower price targets from Mizuho and Barclays, while the consensus rating remains Hold with a $45 target.
• Bentley Systems posted solid quarterly results, beating EPS and revenue estimates with $0.38 EPS and $424.18 million in revenue, up 14.5% year over year; the company also paid a quarterly dividend of $0.07 per share.

NewEdge Wealth LLC decreased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 35.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,725 shares of the company's stock after selling 37,959 shares during the period. NewEdge Wealth LLC's holdings in Bentley Systems were worth $2,378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in Bentley Systems in the 4th quarter worth about $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock valued at $26,000 after buying an additional 627 shares during the last quarter. Physician Wealth Advisors Inc. lifted its holdings in shares of Bentley Systems by 80.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company's stock valued at $28,000 after buying an additional 352 shares during the last quarter. Royal London Asset Management Ltd. bought a new stake in shares of Bentley Systems in the 4th quarter valued at approximately $32,000. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought a new stake in shares of Bentley Systems in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 44.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BSY shares. Weiss Ratings downgraded Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, July 16th. Mizuho reduced their target price on shares of Bentley Systems from $50.00 to $45.00 and set an "outperform" rating for the company in a research note on Friday, May 8th. BMO Capital Markets set a $41.00 target price on shares of Bentley Systems in a research report on Friday. BNP Paribas Exane assumed coverage on shares of Bentley Systems in a research note on Thursday, June 18th. They set an "outperform" rating and a $40.00 price target on the stock. Finally, Barclays cut their price target on shares of Bentley Systems from $49.00 to $40.00 and set an "equal weight" rating on the stock in a report on Friday, May 29th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $45.00.

Bentley Systems Stock Performance

Shares of BSY opened at $31.40 on Friday. The company's fifty day moving average price is $31.61 and its 200 day moving average price is $34.22. Bentley Systems, Incorporated has a one year low of $28.08 and a one year high of $59.25. The company has a market capitalization of $9.18 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 2.02 and a beta of 1.00. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.51 and a quick ratio of 0.51.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The firm had revenue of $424.18 million for the quarter, compared to analyst estimates of $419.80 million. During the same quarter last year, the firm posted $0.35 EPS. The company's revenue was up 14.5% on a year-over-year basis. As a group, analysts expect that Bentley Systems, Incorporated will post 1.2 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. Bentley Systems's dividend payout ratio is currently 31.82%.

Bentley Systems Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.

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