Envestnet Asset Management Inc. Sells 117,627 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Envestnet Asset Management Inc. trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 11.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 953,850 shares of the company's stock after selling 117,627 shares during the period. Envestnet Asset Management Inc. owned about 0.31% of Bentley Systems worth $37,524,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BSY. City Holding Co. purchased a new position in Bentley Systems during the 1st quarter valued at about $26,000. Fifth Third Bancorp grew its holdings in shares of Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock worth $33,000 after purchasing an additional 435 shares in the last quarter. HM Payson & Co. purchased a new position in shares of Bentley Systems during the first quarter worth about $45,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Bentley Systems by 99.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock worth $56,000 after purchasing an additional 706 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new position in shares of Bentley Systems during the fourth quarter worth about $75,000. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Trading Up 0.1%

Shares of Bentley Systems stock traded up $0.08 during midday trading on Wednesday, reaching $57.51. 647,905 shares of the company's stock traded hands, compared to its average volume of 1,263,687. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market cap of $16.78 billion, a PE ratio of 72.80, a price-to-earnings-growth ratio of 4.63 and a beta of 1.09. The stock has a 50 day moving average of $50.56 and a 200-day moving average of $46.30. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $57.63.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. The company had revenue of $370.54 million for the quarter, compared to analysts' expectations of $366.76 million. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. As a group, equities analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.49%. Bentley Systems's dividend payout ratio is currently 35.44%.

Analysts Set New Price Targets

BSY has been the subject of several recent analyst reports. Wall Street Zen lowered Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday. Mizuho cut their price objective on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. UBS Group boosted their price objective on Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Royal Bank Of Canada boosted their target price on Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Oppenheimer boosted their target price on Bentley Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.30.

Insider Buying and Selling

In related news, insider David R. Shaman sold 19,348 shares of Bentley Systems 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 sale, the insider owned 647,609 shares of the company's stock, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Brock Ballard sold 12,363 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total value of $557,324.04. Following the transaction, the executive owned 68,064 shares of the company's stock, valued at approximately $3,068,325.12. The trade was a 15.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,201,832 shares of company stock valued at $61,414,013. Insiders own 20.56% of the company's stock.

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.