Advisors Capital Management LLC Has $857,000 Position in Bentley Systems, Incorporated $BSY

Key Points

• Advisors Capital Management LLC reduced its holdings in Bentley Systems by 89.6% during the 1st quarter, bringing their stake down to 21,773 shares worth approximately $857,000.
• Several hedge funds adjusted their positions, with Bessemer Group Inc. increasing its stake by 8,187,760.9%, now owning 1,883,208 shares valued at $74,086,000.
• Bentley Systems announced a quarterly dividend of $0.07 per share, with an annualized yield of 0.5% and a payout ratio of 35.44%.

Advisors Capital Management LLC lowered its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 89.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,773 shares of the company's stock after selling 186,633 shares during the quarter. Advisors Capital Management LLC's holdings in Bentley Systems were worth $857,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC boosted its position in Bentley Systems by 3.7% during the first 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 period. Prentiss Smith & Co. Inc. boosted its position in Bentley Systems by 0.5% during the first 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 period. Venturi Wealth Management LLC boosted its position in Bentley Systems by 3.5% during the first 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 period. Quantinno Capital Management LP boosted its position in 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 period. Finally, Wealth Alliance LLC boosted its position in Bentley Systems by 5.0% during the first quarter. Wealth Alliance LLC now owns 7,951 shares of the company's stock worth $313,000 after purchasing an additional 380 shares during the period. Institutional investors own 44.16% of the company's stock.

Bentley Systems Stock Performance

BSY stock traded down $0.28 during midday trading on Monday, hitting $52.66. The stock had a trading volume of 957,527 shares, compared to its average volume of 1,456,292. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 66.66, a P/E/G ratio of 4.27 and a beta of 1.09. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25. The stock has a 50-day simple moving average of $55.32 and a 200 day simple moving average of $49.02. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $364.11 million during the quarter, compared to analysts' expectations of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.Bentley Systems's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $0.31 earnings per share. As a group, equities research analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 23rd. Bentley Systems's dividend payout ratio (DPR) is 35.44%.

Insider Buying and Selling

In related news, Director Raymond B. Bentley sold 273,094 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $50.30, for a total value of $13,736,628.20. Following the completion of the transaction, the director directly owned 15,719,227 shares of the company's stock, valued at $790,677,118.10. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 completion of the transaction, the insider directly owned 647,609 shares of the company's stock, 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. Insiders sold a total of 834,766 shares of company stock valued at $43,139,443 over the last ninety days. 20.56% of the stock is owned by company insiders.

Analyst Ratings Changes

BSY has been the subject of several research reports. Rosenblatt Securities cut Bentley Systems from a "buy" rating to a "neutral" rating and increased their price objective for the company from $53.00 to $58.00 in a research report on Thursday, August 7th. Robert W. Baird set a $64.00 price objective on Bentley Systems and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Wall Street Zen cut Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Oppenheimer increased their price objective on Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group increased their price objective on Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $56.60.

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.