Mizuho Markets Americas LLC Sells 269,901 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Key Points

• Mizuho Markets Americas LLC decreased its stake in Bentley Systems by 69.8% during the first quarter, selling 269,901 shares and retaining 116,907 shares valued at approximately $4.6 million.
• Bentley Systems reported a 10.2% year-over-year increase in quarterly revenue to $364.11 million and earnings per share (EPS) of $0.32, exceeding analysts' estimates.
• The company announced a quarterly dividend of $0.07 per share in June, resulting in a 0.5% dividend yield and a payout ratio of 35.44%.

Mizuho Markets Americas LLC lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 69.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 116,907 shares of the company's stock after selling 269,901 shares during the quarter. Mizuho Markets Americas LLC's holdings in Bentley Systems were worth $4,599,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. City Holding Co. acquired a new stake in shares of Bentley Systems during the 1st quarter worth about $26,000. Larson Financial Group LLC raised its stake in Bentley Systems by 1,707.1% in the 1st quarter. Larson Financial Group LLC now owns 759 shares of the company's stock worth $30,000 after purchasing an additional 717 shares in the last quarter. Fifth Third Bancorp raised its stake in Bentley Systems by 106.6% in the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company's stock worth $33,000 after purchasing an additional 435 shares in the last quarter. HM Payson & Co. acquired a new stake in Bentley Systems in the 1st quarter worth about $45,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Bentley Systems by 99.0% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. UBS Group lifted their price objective on shares of Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Oppenheimer lifted their price objective on shares of Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Robert W. Baird set a $64.00 price objective on shares of Bentley Systems and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen cut shares of Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $56.60.

Bentley Systems Price Performance

BSY stock traded down $0.37 during mid-day trading on Thursday, hitting $51.72. The stock had a trading volume of 1,633,921 shares, compared to its average volume of 1,630,216. 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, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25. The firm has a market capitalization of $15.11 billion, a P/E ratio of 65.47, a P/E/G ratio of 4.23 and a beta of 1.10. The firm has a fifty day simple moving average of $54.37 and a 200 day simple moving average of $47.82.

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

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. Bentley Systems's payout ratio is 35.44%.

Insider Activity at Bentley Systems

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, Director Raymond B. Bentley sold 122,114 shares of Bentley Systems stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $50.70, for a total transaction of $6,191,179.80. Following the sale, the director directly owned 15,347,424 shares in the company, valued at $778,114,396.80. This trade represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,189,869 shares of company stock valued at $60,880,388. 20.56% of the stock is owned by insiders.

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.