Handelsbanken Fonder AB Reduces Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Handelsbanken Fonder AB reduced its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 47.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 623,600 shares of the company's stock after selling 572,000 shares during the quarter. Handelsbanken Fonder AB owned 0.21% of Bentley Systems worth $24,532,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. City Holding Co. acquired a new stake in Bentley Systems in the first quarter valued at approximately $26,000. Private Trust Co. NA grew its holdings in Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company's stock valued at $47,000 after purchasing an additional 378 shares during the period. Atala Financial Inc acquired a new stake in Bentley Systems in the fourth quarter valued at approximately $55,000. Ameriflex Group Inc. acquired a new stake in Bentley Systems in the fourth quarter valued at approximately $75,000. Finally, CIBC Private Wealth Group LLC grew its holdings in Bentley Systems by 42.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company's stock valued at $78,000 after purchasing an additional 495 shares during the period. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction of $557,324.04. Following the completion of the sale, the executive now directly owns 68,064 shares of the company's stock, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.56% of the stock is currently owned by insiders.

Bentley Systems Trading Up 0.3%

NASDAQ:BSY traded up $0.16 on Friday, reaching $49.34. The company's stock had a trading volume of 1,252,376 shares, compared to its average volume of 1,221,923. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $52.12. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of 44.45, a price-to-earnings-growth ratio of 3.52 and a beta of 1.07. The stock has a 50 day moving average price of $45.70 and a 200 day moving average price of $45.50.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.05. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The company had revenue of $370.54 million for the quarter, compared to the consensus estimate of $366.76 million. During the same quarter in the previous year, the business earned $0.31 earnings per share. The company's revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts anticipate 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. Investors of record on Tuesday, June 3rd were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.28 annualized dividend and a yield of 0.57%. Bentley Systems's payout ratio is 35.44%.

Analyst Ratings Changes

BSY has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. KeyCorp lifted their price target on Bentley Systems from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. UBS Group lifted their price target on Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Finally, Oppenheimer lifted their price target on Bentley Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $52.00.

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.