Advisors Capital Management LLC Lowers Stock 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 lessened its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 89.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,773 shares of the company's stock after selling 186,633 shares during the period. Advisors Capital Management LLC's holdings in Bentley Systems were worth $857,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BSY. Two Sigma Investments LP lifted its position in Bentley Systems by 42.3% during the 4th quarter. Two Sigma Investments LP now owns 42,700 shares of the company's stock valued at $1,994,000 after purchasing an additional 12,689 shares during the period. Teacher Retirement System of Texas acquired a new position in Bentley Systems during the 1st quarter valued at about $920,000. Bright Rock Capital Management LLC acquired a new position in Bentley Systems during the 1st quarter valued at about $1,967,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Bentley Systems by 99.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock valued at $56,000 after purchasing an additional 706 shares during the period. Finally, Bessemer Group Inc. lifted its position in 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 purchasing an additional 1,883,185 shares during the period. Institutional investors and hedge funds own 44.16% of the company's stock.

Bentley Systems Stock Up 0.3%

NASDAQ:BSY traded up $0.18 during trading hours on Thursday, reaching $52.92. 230,885 shares of the stock were exchanged, compared to its average volume of 1,531,398. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $59.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a 50 day moving average of $55.18 and a 200 day moving average of $49.07. The stock has a market cap of $15.46 billion, a PE ratio of 66.92, a PEG ratio of 4.21 and a beta of 1.09.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The company had revenue of $364.11 million during the quarter, compared to the consensus estimate of $363.51 million. During the same quarter in the prior year, the firm posted $0.31 EPS. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd will be paid a $0.07 dividend. The ex-dividend date is Tuesday, September 23rd. This represents a $0.28 annualized dividend and a yield of 0.5%. Bentley Systems's payout ratio is 35.44%.

Insiders Place Their Bets

In related news, Director Keith A. Bentley sold 150,000 shares of Bentley Systems stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the sale, the director directly owned 3,859,327 shares of the company's stock, valued at approximately $214,347,021.58. The trade was a 3.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the sale, the insider directly owned 647,609 shares in the company, valued at $36,887,808.64. The trade was a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,983 shares of company stock worth $16,756,067 in the last quarter. 20.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BSY shares. Wall Street Zen cut Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Oppenheimer upped their price target on Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Piper Sandler upped their price target on Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. The Goldman Sachs Group upped their price target on Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research note on Thursday, August 7th. Finally, UBS Group upped their price target on Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $56.60.

Bentley Systems 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.