M&T Bank Corp Sells 5,159 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

M&T Bank Corp lowered its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 11.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,042 shares of the company's stock after selling 5,159 shares during the quarter. M&T Bank Corp's holdings in Bentley Systems were worth $1,614,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BSY. City Holding Co. bought a new stake in shares of Bentley Systems in the 1st quarter worth about $26,000. Fifth Third Bancorp boosted its position in 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 buying an additional 435 shares in the last quarter. HM Payson & Co. bought a new stake in Bentley Systems during the first quarter worth about $45,000. Atala Financial Inc bought a new stake in Bentley Systems during the fourth quarter worth about $55,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Bentley Systems by 99.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock worth $56,000 after buying an additional 706 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Insider Buying and Selling

In other news, insider David R. Shaman sold 19,348 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $56.96, for a total value of $1,102,062.08. Following the completion of the sale, the insider directly owned 647,609 shares of the company's stock, valued at $36,887,808.64. This represents a 2.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Brock Ballard sold 12,363 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the completion of the sale, the executive owned 68,064 shares in the company, valued at $3,068,325.12. This represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,201,832 shares of company stock worth $61,414,013. Company insiders own 20.56% of the company's stock.

Bentley Systems Trading Up 0.1%

NASDAQ:BSY traded up $0.08 on Wednesday, hitting $57.51. 1,328,803 shares of the stock were exchanged, compared to its average volume of 1,266,268. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.49 and a current ratio of 0.49. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $57.67. The stock has a market capitalization of $16.78 billion, a price-to-earnings ratio of 72.80, a P/E/G ratio of 4.63 and a beta of 1.09. The company's 50-day moving average price is $50.56 and its 200 day moving average price is $46.30.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 EPS 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 during the quarter, compared to analysts' expectations of $366.76 million. During the same quarter in the previous year, the company earned $0.31 EPS. Bentley Systems's revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems's dividend payout ratio (DPR) is currently 35.44%.

Analyst Upgrades and Downgrades

BSY has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their target price on Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Mizuho reduced their price objective on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. KeyCorp increased their target price on Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. JPMorgan Chase & Co. cut their price target on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Finally, Oppenheimer upped their price target on shares of Bentley Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.30.

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.