Vestmark Advisory Solutions Inc. Has $10.18 Million Holdings in Bentley Systems, Incorporated $BSY

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Bentley Systems by 110.8%, acquiring an additional 135,922 shares in the first quarter, bringing its total holdings to 258,640 shares valued at approximately $10.18 million.
• Bentley Systems reported a quarterly earnings per share (EPS) of $0.32, exceeding estimates by $0.03, with revenues of $364.11 million, reflecting a year-over-year growth of 10.2%.
• Analysts have given Bentley Systems an average target price of $56.60, with a mix of ratings including one sell, four holds, and six buy recommendations.

Vestmark Advisory Solutions Inc. grew its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 110.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 258,640 shares of the company's stock after acquiring an additional 135,922 shares during the period. Vestmark Advisory Solutions Inc. owned 0.09% of Bentley Systems worth $10,175,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Bentley Systems by 4.2% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 49,613 shares of the company's stock worth $1,952,000 after acquiring an additional 2,000 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Bentley Systems in the first quarter worth approximately $334,000. Nuveen LLC bought a new stake in Bentley Systems in the first quarter worth approximately $11,901,000. Entropy Technologies LP grew its position in Bentley Systems by 3.3% in the first quarter. Entropy Technologies LP now owns 19,085 shares of the company's stock worth $751,000 after acquiring an additional 601 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Bentley Systems by 25.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132,778 shares of the company's stock worth $5,223,000 after acquiring an additional 26,600 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

Insider Transactions at Bentley Systems

In other news, insider David R. Shaman sold 19,348 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $56.96, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond B. Bentley sold 355,103 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.96, for a total transaction of $17,740,945.88. Following the transaction, the director directly owned 15,992,321 shares of the company's stock, valued at $798,976,357.16. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,189,869 shares of company stock valued at $60,880,388. Company insiders own 20.56% of the company's stock.

Analyst Upgrades and Downgrades

BSY has been the subject of several recent research reports. Wall Street Zen downgraded shares of Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Royal Bank Of Canada upped their price objective on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Rosenblatt Securities downgraded shares of Bentley Systems from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $53.00 to $58.00 in a report on Thursday, August 7th. UBS Group upped their price objective on shares of Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Piper Sandler upped their price objective on shares of Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Six equities research 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.60.

Bentley Systems Price Performance

Shares of NASDAQ:BSY traded down $0.3130 during midday trading on Tuesday, reaching $53.3270. 486,392 shares of the company's stock were exchanged, compared to its average volume of 1,541,153. The company's 50 day simple moving average is $54.55 and its two-hundred day simple moving average is $47.94. The firm has a market capitalization of $15.58 billion, a PE ratio of 67.53, a price-to-earnings-growth ratio of 4.29 and a beta of 1.10. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $59.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51.

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, topping analysts' consensus estimates of $0.29 by $0.03. The company had revenue of $364.11 million during the quarter, compared to the consensus estimate of $363.51 million. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. Equities research analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems's dividend payout ratio (DPR) is presently 35.44%.

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.