Duncan Williams Asset Management LLC Takes Position in Bentley Systems, Incorporated $BSY

Key Points

• Duncan Williams Asset Management LLC acquired 10,906 shares of Bentley Systems, valued at approximately $589,000, marking a significant institutional investment in the company.
• Bentley Systems reported a 10.2% increase in quarterly revenue, totaling $364.11 million, and exceeded earnings expectations with $0.32 earnings per share.
• The company recently announced a quarterly dividend of $0.07 per share, resulting in an annualized dividend of $0.28 and a yield of 0.5%.

Duncan Williams Asset Management LLC acquired a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,906 shares of the company's stock, valued at approximately $589,000.

Several other institutional investors have also recently added to or reduced their stakes in BSY. GAMMA Investing LLC boosted its position in shares of Bentley Systems by 6,071.2% during the first quarter. GAMMA Investing LLC now owns 19,316 shares of the company's stock worth $760,000 after buying an additional 19,003 shares during the period. City Holding Co. acquired a new position in Bentley Systems in the 1st quarter valued at about $26,000. SG Americas Securities LLC increased its stake in Bentley Systems by 449.7% during the first quarter. SG Americas Securities LLC now owns 384,291 shares of the company's stock worth $15,118,000 after purchasing an additional 314,387 shares during the period. Fifth Third Bancorp lifted its holdings in Bentley Systems by 106.6% during the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company's stock worth $33,000 after buying an additional 435 shares in the last quarter. Finally, Net Worth Advisory Group raised its stake in shares of Bentley Systems by 25.3% in the first quarter. Net Worth Advisory Group now owns 6,337 shares of the company's stock valued at $249,000 after acquiring an additional 1,278 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Bentley Systems Stock Down 1.7%

Bentley Systems stock opened at $54.99 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25. The stock has a 50-day simple moving average of $54.05 and a 200-day simple moving average of $50.09. The company has a market capitalization of $16.06 billion, a P/E ratio of 69.61, a PEG ratio of 4.44 and a beta 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 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. The business had revenue of $364.11 million during the quarter, compared to the consensus estimate of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The company's revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 earnings per share. Equities research analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

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

Insider Activity

In other Bentley Systems news, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the transaction, the insider owned 647,609 shares in the company, valued at approximately $36,887,808.64. The trade was a 2.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 20,713 shares of company stock worth $1,180,690 in the last quarter. Insiders own 20.56% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Weiss Ratings reiterated a "hold (c)" rating on shares of Bentley Systems in a report on Saturday, September 27th. Piper Sandler increased their price objective on shares of Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a research report 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 report on Thursday, August 7th. Finally, UBS Group boosted their target price 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. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company 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.

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