Deutsche Bank AG Trims Position in Bentley Systems, Incorporated $BSY

Key Points

• Deutsche Bank AG significantly decreased its stake in Bentley Systems by 88.2%, now owning approximately 243,643 shares valued at about $9.59 million.
• A notable insider transaction occurred when Director Raymond B. Bentley sold 355,103 shares for around $17.74 million, which represents a 2.17% decrease in ownership.
• Analysts have recently adjusted their ratings for Bentley Systems, with upgrades from several firms, lifting the average price target to $56.60 and indicating a consensus "Hold" rating.

Deutsche Bank AG reduced its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 88.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 243,643 shares of the company's stock after selling 1,814,396 shares during the period. Deutsche Bank AG owned about 0.08% of Bentley Systems worth $9,585,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BSY. City Holding Co. purchased a new stake in Bentley Systems in the first quarter valued at $26,000. Larson Financial Group LLC lifted its position in Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after acquiring an additional 717 shares during the last quarter. Fifth Third Bancorp lifted its position in Bentley Systems by 106.6% in the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock valued at $33,000 after acquiring an additional 435 shares during the last quarter. HM Payson & Co. purchased a new stake in Bentley Systems in the first quarter valued at $45,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Bentley Systems by 99.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock valued at $56,000 after acquiring an additional 706 shares during the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, insider David R. Shaman sold 19,348 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $56.96, for a total value of $1,102,062.08. Following the sale, the insider owned 647,609 shares of the company's stock, valued at $36,887,808.64. This represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith A. Bentley sold 150,000 shares of the company's stock in a transaction dated 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 completion of the sale, the director directly owned 3,859,327 shares in the company, 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. Insiders have sold 1,189,869 shares of company stock valued at $60,880,388 over the last quarter. Corporate insiders own 20.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BSY shares. UBS Group boosted their price target 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. Robert W. Baird set a $64.00 target price on shares of Bentley Systems and gave the company an "outperform" rating in a report on Wednesday, July 30th. Oppenheimer upped their target price on shares of Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their target price on shares of Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Wall Street Zen cut shares of Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.60.

Bentley Systems Price Performance

BSY traded down $0.1160 on Tuesday, hitting $53.5240. 688,575 shares of the company were exchanged, compared to its average volume of 1,542,414. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. The business's fifty day moving average is $54.55 and its 200 day moving average is $47.94. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25. The firm has a market capitalization of $15.63 billion, a P/E ratio of 67.72, a price-to-earnings-growth ratio of 4.29 and a beta of 1.10.

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

Bentley Systems Announces Dividend

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

About Bentley Systems

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.