LPL Financial LLC Reduces Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

LPL Financial LLC reduced its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 45.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 180,376 shares of the company's stock after selling 150,578 shares during the period. LPL Financial LLC owned about 0.06% of Bentley Systems worth $7,096,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Axxcess Wealth Management LLC increased its holdings in shares of Bentley Systems by 3.7% in the first quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company's stock worth $333,000 after purchasing an additional 301 shares during the period. Prentiss Smith & Co. Inc. grew its stake in shares of Bentley Systems by 0.5% during the first quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company's stock valued at $2,524,000 after buying an additional 315 shares during the last quarter. Venturi Wealth Management LLC grew its stake 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 valued at $371,000 after buying an additional 315 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Bentley Systems by 7.2% during the 4th quarter. Quantinno Capital Management LP now owns 5,261 shares of the company's stock valued at $246,000 after buying an additional 354 shares during the last quarter. Finally, Wealth Alliance LLC grew its stake in shares of Bentley Systems by 5.0% in the first quarter. Wealth Alliance LLC now owns 7,951 shares of the company's stock worth $313,000 after purchasing an additional 380 shares during the last quarter. 44.16% of the stock is owned by institutional investors.

Bentley Systems Stock Performance

Shares of Bentley Systems stock traded up $0.26 during trading on Friday, hitting $51.98. 133,930 shares of the company's stock were exchanged, compared to its average volume of 1,537,315. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $59.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. The business has a 50-day simple moving average of $54.37 and a 200-day simple moving average of $47.82. The stock has a market capitalization of $15.18 billion, a price-to-earnings ratio of 65.84, a PEG ratio of 4.23 and a beta of 1.10.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The firm had revenue of $364.11 million for the quarter, compared to analyst estimates of $363.51 million. During the same period in the previous year, the business posted $0.31 earnings per share. Bentley Systems's quarterly revenue was up 10.2% on a year-over-year basis. On average, research analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The firm 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. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems's dividend payout ratio is presently 35.44%.

Insider Buying and Selling

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 shares were sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the transaction, the insider owned 647,609 shares in the company, valued at $36,887,808.64. The trade was a 2.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 owned 15,347,424 shares of the company's stock, valued at approximately $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 1,189,869 shares of company stock valued at $60,880,388 in the last ninety days. Company insiders own 20.56% of the company's stock.

Analyst Ratings Changes

BSY has been the subject of several research analyst reports. The Goldman Sachs Group raised their price objective on shares of Bentley Systems from $42.00 to $47.00 and gave the stock a "sell" rating in a report on Thursday, August 7th. KeyCorp boosted their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Piper Sandler lifted their target price on shares of Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. UBS Group lifted their target price on shares of Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada boosted their price objective on shares of Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.