Cetera Investment Advisers Sells 27,734 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Cetera Investment Advisers cut its Bentley Systems stake by 43.9% in the first quarter, selling 27,734 shares and retaining 35,421 shares valued at approximately $1.24 million. Institutional investors collectively own 44.16% of the company.
• Bentley Systems shares opened at $36.56, up 2.3%, while the company reported quarterly EPS of $0.35—above the $0.32 consensus estimate—and revenue growth of 12.8% year over year.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $45.00, despite mixed opinions; the company also pays a quarterly dividend of $0.07, representing a 0.8% annualized yield.

Cetera Investment Advisers lowered its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 43.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,421 shares of the company's stock after selling 27,734 shares during the quarter. Cetera Investment Advisers' holdings in Bentley Systems were worth $1,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Geneos Wealth Management Inc. increased its position in shares of Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock worth $26,000 after purchasing an additional 627 shares during the last quarter. Invesco Ltd. grew its stake in shares of Bentley Systems by 2.6% in the second quarter. Invesco Ltd. now owns 375,054 shares of the company's stock valued at $20,242,000 after buying an additional 9,557 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Bentley Systems by 97.5% in the second quarter. First Trust Advisors LP now owns 160,644 shares of the company's stock valued at $8,670,000 after buying an additional 79,286 shares in the last quarter. Brown Advisory Inc. acquired a new position in Bentley Systems during the second quarter worth $212,000. Finally, Cresset Asset Management LLC acquired a new position in Bentley Systems during the second quarter worth $248,000. Institutional investors own 44.16% of the company's stock.

Bentley Systems Trading Up 2.3%

Shares of Bentley Systems stock opened at $36.56 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The business has a fifty day simple moving average of $32.32 and a two-hundred day simple moving average of $33.84. Bentley Systems, Incorporated has a 1 year low of $28.08 and a 1 year high of $57.25. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 40.18, a P/E/G ratio of 2.24 and a beta of 0.98.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $410.73 million for the quarter, compared to the consensus estimate of $412.12 million. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The company's quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 earnings per share. Research analysts forecast that Bentley Systems, Incorporated will post 1.2 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were paid a $0.07 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Bentley Systems's dividend payout ratio is 30.77%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. BMO Capital Markets increased their price target on shares of Bentley Systems from $41.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. BNP Paribas Exane assumed coverage on shares of Bentley Systems in a research note on Thursday, June 18th. They set an "outperform" rating and a $40.00 price objective on the stock. Weiss Ratings cut shares of Bentley Systems from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, July 16th. Zacks Research downgraded shares of Bentley Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Finally, Mizuho reduced their price target on Bentley Systems from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $45.00.

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.

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