Generali Asset Management SPA SGR Sells 7,662 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Generali Asset Management SPA SGR has reduced its holdings in Bentley Systems, Incorporated by 22.2%, selling 7,662 shares during the second quarter, leaving it with 26,920 shares valued at approximately $1.45 million.
• Bentley Systems recently reported a 10.2% year-over-year revenue increase, totaling $364.11 million, with an earnings per share (EPS) of $0.32, surpassing analyst expectations.
• The company has announced a quarterly dividend of $0.07 per share, representing an annualized yield of 0.5%, and has a current dividend payout ratio of 35.44%.

Generali Asset Management SPA SGR cut its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 22.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,920 shares of the company's stock after selling 7,662 shares during the quarter. Generali Asset Management SPA SGR's holdings in Bentley Systems were worth $1,453,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Bentley Systems by 19.3% during the second quarter. Blue Trust Inc. now owns 1,305 shares of the company's stock worth $70,000 after acquiring an additional 211 shares during the last quarter. Axxcess Wealth Management LLC raised its position in shares of Bentley Systems by 3.7% during the first quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company's stock worth $333,000 after acquiring an additional 301 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Bentley Systems by 3.5% during the first quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company's stock worth $371,000 after acquiring an additional 315 shares during the last quarter. Thrive Wealth Management LLC raised its position in shares of Bentley Systems by 4.1% during the second quarter. Thrive Wealth Management LLC now owns 8,101 shares of the company's stock worth $437,000 after acquiring an additional 316 shares during the last quarter. Finally, Wealth Alliance LLC raised its position in shares of Bentley Systems by 5.0% during the first quarter. Wealth Alliance LLC now owns 7,951 shares of the company's stock worth $313,000 after acquiring an additional 380 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Trading Up 2.0%

NASDAQ BSY opened at $51.30 on Friday. The business has a 50 day simple moving average of $52.97 and a 200 day simple moving average of $50.68. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $59.25. The stock has a market capitalization of $14.98 billion, a P/E ratio of 64.94, a P/E/G ratio of 4.06 and a beta of 1.07. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The firm had revenue of $364.11 million during the quarter, compared to analysts' expectations of $363.51 million. During the same quarter last year, the firm posted $0.31 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 23rd. Bentley Systems's dividend payout ratio (DPR) is 35.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Rosenblatt Securities upgraded Bentley Systems from a "neutral" rating to a "buy" rating and set a $58.00 price objective for the company in a research report on Friday. Weiss Ratings restated a "hold (c)" rating on shares of Bentley Systems in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on Bentley Systems from $42.00 to $47.00 and gave the stock a "sell" rating in a research report on Thursday, August 7th. Piper Sandler raised their target price on Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, UBS Group raised their target price on Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $56.64.

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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