Cetera Investment Advisers Reduces Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Key Points

• Cetera Investment Advisers reduced its stake in Bentley Systems by 25.6%, now holding 26,354 shares valued at approximately $1.04 million.
• Insiders at Bentley Systems have sold a total of 1,189,869 shares worth over $60 million in the last ninety days, indicating active trading among executives.
• Bentley Systems announced a quarterly dividend of $0.07 per share, representing a 0.5% yield, with a dividend payout ratio of 35.44%.

Cetera Investment Advisers cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 25.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,354 shares of the company's stock after selling 9,046 shares during the quarter. Cetera Investment Advisers' holdings in Bentley Systems were worth $1,037,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in shares of Bentley Systems by 8,187,760.9% during the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock worth $74,086,000 after purchasing an additional 1,883,185 shares during the last quarter. AXA S.A. lifted its position in shares of Bentley Systems by 7.6% during the fourth quarter. AXA S.A. now owns 1,603,157 shares of the company's stock worth $74,867,000 after purchasing an additional 112,824 shares during the last quarter. Northern Trust Corp lifted its position in shares of Bentley Systems by 18.9% during the fourth quarter. Northern Trust Corp now owns 1,439,065 shares of the company's stock worth $67,204,000 after purchasing an additional 228,502 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bentley Systems by 11.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 871,594 shares of the company's stock worth $40,711,000 after purchasing an additional 90,860 shares during the last quarter. Finally, Woodline Partners LP lifted its position in shares of Bentley Systems by 10.9% during the fourth quarter. Woodline Partners LP now owns 435,267 shares of the company's stock worth $20,327,000 after purchasing an additional 42,931 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, insider David R. Shaman sold 19,348 shares of Bentley Systems stock in a transaction dated 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 transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond B. Bentley sold 355,103 shares of Bentley Systems stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $49.96, for a total value of $17,740,945.88. Following the completion of the transaction, the director owned 15,992,321 shares in the company, valued at $798,976,357.16. This trade represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,189,869 shares of company stock worth $60,880,388 over the last quarter. Insiders own 20.56% of the company's stock.

Bentley Systems Stock Up 2.7%

Shares of BSY stock traded up $1.42 on Friday, hitting $53.14. The stock had a trading volume of 1,782,432 shares, compared to its average volume of 1,640,665. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average price of $54.43 and a 200 day moving average price of $47.88. The company has a market cap of $15.52 billion, a PE ratio of 67.27, a P/E/G ratio of 4.32 and a beta of 1.10. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $59.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share 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 firm had revenue of $364.11 million during the quarter, compared to the consensus estimate of $363.51 million. During the same period in the previous year, the company posted $0.31 earnings per share. The firm's quarterly revenue was up 10.2% on a year-over-year basis. Research analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

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

Analyst Ratings Changes

BSY has been the subject of several research analyst reports. Rosenblatt Securities downgraded Bentley Systems from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $53.00 to $58.00 in a research report on Thursday, August 7th. The Goldman Sachs Group lifted their target price on Bentley Systems from $42.00 to $47.00 and gave the stock a "sell" rating in a research report on Thursday, August 7th. Oppenheimer lifted their target price on Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Robert W. Baird set a $64.00 target price on Bentley Systems and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen downgraded Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.