Copeland Capital Management LLC Has $32.57 Million Position in Bentley Systems, Incorporated $BSY

Key Points

• Copeland Capital Management LLC reduced its position in Bentley Systems by 5.0%, owning 603,527 shares worth approximately $32.57 million.
• Bentley Systems reported an EPS of $0.32 for the last quarter, beating expectations, with revenue of $364.11 million, marking a 10.2% increase year-over-year.
• The company announced a quarterly dividend of $0.07 per share, resulting in a 0.5% yield for shareholders.

Copeland Capital Management LLC lowered its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 5.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 603,527 shares of the company's stock after selling 31,761 shares during the period. Copeland Capital Management LLC owned 0.21% of Bentley Systems worth $32,572,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BSY. Bessemer Group Inc. increased its holdings in shares of Bentley Systems by 8,187,760.9% in the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after purchasing an additional 1,883,185 shares in the last quarter. Vanguard Group Inc. boosted its stake in Bentley Systems by 5.3% in the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company's stock valued at $708,114,000 after acquiring an additional 898,115 shares during the last quarter. Federated Hermes Inc. bought a new position in Bentley Systems in the first quarter valued at approximately $15,960,000. SG Americas Securities LLC boosted its stake in Bentley Systems by 449.7% in the first quarter. SG Americas Securities LLC now owns 384,291 shares of the company's stock valued at $15,118,000 after acquiring an additional 314,387 shares during the last quarter. Finally, Nuveen LLC bought a new position in Bentley Systems in the first quarter valued at approximately $11,901,000. Institutional investors and hedge funds own 44.16% of the company's stock.

Bentley Systems Trading Up 6.9%

BSY opened at $55.95 on Friday. The stock has a market capitalization of $16.34 billion, a P/E ratio of 70.82, a P/E/G ratio of 4.22 and a beta of 1.07. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $59.25. The firm's fifty day simple moving average is $54.12 and its 200 day simple moving average is $49.89. 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 (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. The business had revenue of $364.11 million for the quarter, compared to analysts' expectations 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 was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 EPS. As a group, research analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 23rd. Bentley Systems's payout ratio is currently 35.44%.

Insider Buying and Selling at Bentley Systems

In related news, Director Keith A. Bentley sold 150,000 shares of the business's 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction on 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 sale, the insider directly owned 647,609 shares in the company, valued at $36,887,808.64. This represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 170,713 shares of company stock worth $9,511,690 over the last ninety days. 20.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BSY. Robert W. Baird set a $64.00 price objective on shares of Bentley Systems and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Piper Sandler raised their price objective on shares of Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Oppenheimer raised their price objective on shares of Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. KeyCorp lifted their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, UBS Group upped their price objective on shares of Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $56.60.

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.

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