Envestnet Portfolio Solutions Inc. lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 45.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,488 shares of the company's stock after selling 16,886 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Bentley Systems were worth $806,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ increased its holdings in Bentley Systems by 591.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company's stock worth $26,446,000 after acquiring an additional 475,361 shares during the last quarter. Sone Capital Management LLC bought a new position in Bentley Systems during the fourth quarter worth about $17,884,000. SG Americas Securities LLC increased its stake in shares of Bentley Systems by 449.7% in 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 in the last quarter. BLI Banque de Luxembourg Investments purchased a new position in shares of Bentley Systems in the fourth quarter worth about $14,929,000. Finally, LBP AM SA bought a new stake in shares of Bentley Systems in the fourth quarter valued at approximately $13,591,000. Institutional investors own 44.16% of the company's stock.
Bentley Systems Stock Performance
NASDAQ:BSY opened at $52.42 on Thursday. The stock has a market cap of $15.30 billion, a P/E ratio of 66.36, a PEG ratio of 4.41 and a beta of 1.07. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.13. The business's 50-day moving average price is $47.18 and its two-hundred day moving average price is $45.58. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $52.90.
Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data 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. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The company had revenue of $370.54 million for the quarter, compared to analysts' expectations of $366.76 million. During the same period in the prior year, the business earned $0.31 earnings per share. Bentley Systems's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.
Bentley Systems Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were given a $0.07 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 annualized dividend and a yield of 0.53%. Bentley Systems's dividend payout ratio (DPR) is presently 35.44%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on BSY. Wall Street Zen raised shares of Bentley Systems from a "hold" rating to a "buy" rating in a report on Sunday. Royal Bank Of Canada raised their price target on Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. The Goldman Sachs Group lowered Bentley Systems from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Rosenblatt Securities dropped their price objective on Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, KeyCorp lifted their target price on Bentley Systems from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $52.00.
Read Our Latest Report on BSY
Insider Activity at Bentley Systems
In other news, CRO Brock Ballard sold 12,363 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive now directly owns 68,064 shares in the company, valued at approximately $3,068,325.12. The trade was a 15.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Raymond B. Bentley sold 122,114 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $50.70, for a total transaction of $6,191,179.80. Following the completion of the sale, the director now directly owns 15,347,424 shares of the company's stock, valued at $778,114,396.80. This trade represents a 0.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,012,363 shares of company stock valued at $50,872,826 over the last 90 days. 20.56% of the stock is owned by insiders.
Bentley Systems Profile
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Free Report)
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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