Montanaro Asset Management Ltd Sells 63,977 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Key Points

• Montanaro Asset Management Ltd reduced its stake in Bentley Systems by 17.1%, now holding approximately $12.17 million in shares.
• Analysts have mixed ratings for Bentley Systems, with a consensus rating of "Hold" and a price target averaging $56.60.
• Bentley Systems recently reported a 10.2% increase in revenue year-over-year and earnings per share of $0.32 for the last quarter, exceeding expectations.

Montanaro Asset Management Ltd reduced its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 309,239 shares of the company's stock after selling 63,977 shares during the period. Bentley Systems accounts for about 3.6% of Montanaro Asset Management Ltd's portfolio, making the stock its 10th largest holding. Montanaro Asset Management Ltd owned 0.10% of Bentley Systems worth $12,165,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. City Holding Co. purchased a new stake in Bentley Systems during the 1st quarter worth approximately $26,000. Larson Financial Group LLC grew its position in shares of Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after purchasing an additional 717 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Bentley Systems by 106.6% in the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock valued at $33,000 after purchasing an additional 435 shares in the last quarter. HM Payson & Co. purchased a new stake in shares of Bentley Systems in the first quarter valued at approximately $45,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Bentley Systems by 99.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock valued at $56,000 after purchasing an additional 706 shares in the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Down 0.7%

NASDAQ:BSY traded down $0.37 during trading hours on Thursday, hitting $51.72. The company's stock had a trading volume of 1,633,921 shares, compared to its average volume of 1,630,216. The stock has a market capitalization of $15.11 billion, a P/E ratio of 65.47, a price-to-earnings-growth ratio of 4.23 and a beta of 1.10. The stock has a fifty day moving average of $54.37 and a 200-day moving average of $47.82. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $59.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, topping 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 business had revenue of $364.11 million for the quarter, compared to analysts' expectations of $363.51 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The business's revenue was up 10.2% compared to the same quarter last year. On average, equities analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders 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 0.5%. Bentley Systems's dividend payout ratio is currently 35.44%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 150,000 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the completion of the sale, the director directly owned 3,859,327 shares of the company's stock, valued at approximately $214,347,021.58. This trade represents a 3.74% 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. Also, Director Raymond B. Bentley sold 122,114 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $50.70, for a total value of $6,191,179.80. Following the sale, the director directly owned 15,347,424 shares of the company's stock, valued at $778,114,396.80. The trade was a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,189,869 shares of company stock valued at $60,880,388 in the last ninety days. Insiders own 20.56% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Piper Sandler upped their price target on Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Wall Street Zen lowered Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Rosenblatt Securities lowered Bentley Systems from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $53.00 to $58.00 in a research report on Thursday, August 7th. Royal Bank Of Canada increased their price objective 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, Robert W. Baird set a $64.00 price objective on Bentley Systems and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $56.60.

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.