AE Wealth Management LLC reduced its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 33.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,177 shares of the company's stock after selling 8,711 shares during the quarter. AE Wealth Management LLC's holdings in Bentley Systems were worth $676,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in BSY. City Holding Co. bought a new position in Bentley Systems during the first quarter worth $26,000. Larson Financial Group LLC lifted its stake in Bentley Systems by 1,707.1% during the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock worth $30,000 after purchasing an additional 717 shares during the last quarter. Fifth Third Bancorp lifted its stake in Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock worth $33,000 after purchasing an additional 435 shares during the last quarter. HM Payson & Co. bought a new position in Bentley Systems during the first quarter worth $45,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Bentley Systems by 99.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock worth $56,000 after purchasing an additional 706 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CRO Brock Ballard sold 12,363 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the completion of the transaction, the executive owned 68,064 shares in the company, valued at $3,068,325.12. This trade represents a 15.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Keith A. Bentley sold 150,000 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the completion of the transaction, the director owned 3,859,327 shares of the company's stock, valued at $214,347,021.58. This trade represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,202,232 shares of company stock worth $61,437,713. Company insiders own 20.56% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on BSY. UBS Group raised their price objective on Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. dropped their target price on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen lowered Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Oppenheimer increased their target price on Bentley Systems from $50.00 to $59.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Finally, Mizuho dropped their target price on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $53.70.
Get Our Latest Analysis on BSY
Bentley Systems Stock Performance
Shares of BSY traded down $0.55 during trading hours on Friday, reaching $57.43. 524,502 shares of the company's stock traded hands, compared to its average volume of 1,506,469. The firm has a market capitalization of $16.76 billion, a price-to-earnings ratio of 72.72, a P/E/G ratio of 4.72 and a beta of 1.09. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $59.25. The business's fifty day simple moving average is $53.10 and its two-hundred day simple moving average is $47.26.
Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.05. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The company had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. During the same period last year, the company earned $0.31 earnings per share. The company's quarterly revenue was up 9.7% compared to the same quarter last year. Analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.
Bentley Systems Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were given a $0.07 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. Bentley Systems's dividend payout ratio (DPR) is 35.44%.
About Bentley Systems
(
Free Report)
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.
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