Valmark Advisers Inc. Sells 10,122 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Valmark Advisers Inc. lessened its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,798 shares of the company's stock after selling 10,122 shares during the period. Valmark Advisers Inc.'s holdings in Bentley Systems were worth $1,920,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Impax Asset Management Group plc boosted its position in Bentley Systems by 41.9% during the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company's stock worth $115,719,000 after purchasing an additional 736,369 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Bentley Systems by 591.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company's stock worth $26,446,000 after buying an additional 475,361 shares during the last quarter. Sone Capital Management LLC bought a new stake in shares of Bentley Systems during the 4th quarter worth $17,884,000. SG Americas Securities LLC grew its stake in Bentley Systems by 449.7% in the 1st quarter. SG Americas Securities LLC now owns 384,291 shares of the company's stock valued at $15,118,000 after buying an additional 314,387 shares during the last quarter. Finally, BLI Banque de Luxembourg Investments bought a new position in Bentley Systems in the 4th quarter worth $14,929,000. Institutional investors and hedge funds own 44.16% of the company's stock.

Insider Activity at Bentley Systems

In other news, Director Raymond B. Bentley sold 122,114 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $50.70, for a total value of $6,191,179.80. Following the sale, the director now owns 15,347,424 shares in the company, valued at approximately $778,114,396.80. The trade was a 0.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Brock Ballard sold 12,363 shares of Bentley Systems stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the transaction, the executive now directly owns 68,064 shares of the company's stock, 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. Insiders have sold a total of 1,012,363 shares of company stock valued at $50,872,826 over the last quarter. 20.56% of the stock is owned by company insiders.

Bentley Systems Stock Performance

Shares of BSY stock traded up $0.01 during mid-day trading on Friday, reaching $52.64. The stock had a trading volume of 2,745,766 shares, compared to its average volume of 1,232,979. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $53.29. The firm has a market cap of $15.36 billion, a PE ratio of 66.63, a P/E/G ratio of 4.40 and a beta of 1.07. The firm's 50 day simple moving average is $47.36 and its 200 day simple moving average is $45.61. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.13.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its 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. The firm had revenue of $370.54 million during the quarter, compared to analysts' expectations of $366.76 million. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. Bentley Systems's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $0.31 earnings per share. On average, analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were given 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 dividend yield of 0.53%. Bentley Systems's dividend payout ratio (DPR) is currently 35.44%.

Analyst Ratings Changes

A number of research firms have issued reports on BSY. Robert W. Baird decreased their price target on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group cut Bentley Systems from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. KeyCorp raised their target price on Bentley Systems from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Oppenheimer lifted their price target on Bentley Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Mizuho reduced their price objective on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.00.

About Bentley Systems

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.