Valmark Advisers Inc. Sells 11,087 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Valmark Advisers Inc. reduced its stakes in Bentley Systems, selling 11,087 shares, representing a 22.7% decrease in holdings.
• Bentley Systems reported $0.32 earnings per share for the latest quarter, exceeding analyst expectations of $0.29, with a revenue increase of 10.2% year-over-year.
• The company recently declared a quarterly dividend of $0.07 per share, resulting in an annualized dividend yield of 0.5% and a payout ratio of 35.44%.

Valmark Advisers Inc. reduced its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 22.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,711 shares of the company's stock after selling 11,087 shares during the period. Valmark Advisers Inc.'s holdings in Bentley Systems were worth $2,035,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSY. Teacher Retirement System of Texas acquired a new position in shares of Bentley Systems during the 1st quarter worth about $920,000. Bright Rock Capital Management LLC acquired a new position in Bentley Systems in the 1st quarter valued at about $1,967,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Bentley Systems by 99.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock valued at $56,000 after buying an additional 706 shares during the last quarter. Bessemer Group Inc. grew its stake in Bentley Systems by 8,187,760.9% in the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after buying an additional 1,883,185 shares during the last quarter. Finally, Cooper Investors PTY Ltd. acquired a new position in Bentley Systems in the 1st quarter valued at about $4,765,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Stock Performance

NASDAQ BSY opened at $50.91 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $14.87 billion, a P/E ratio of 64.44, a P/E/G ratio of 4.24 and a beta of 1.07. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. The firm has a 50-day moving average price of $53.75 and a two-hundred day moving average price of $50.21.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $363.51 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, September 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. Bentley Systems's dividend payout ratio (DPR) is currently 35.44%.

Analyst Upgrades and Downgrades

BSY has been the topic of a number of research reports. Barclays initiated coverage on shares of Bentley Systems in a research note on Tuesday. They issued an "equal weight" rating and a $57.00 price target on the stock. Oppenheimer upped their price target on shares of Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. KeyCorp upped their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Bentley Systems in a report on Wednesday. Finally, Rosenblatt Securities downgraded shares of Bentley Systems from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $53.00 to $58.00 in a report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bentley Systems presently has an average rating of "Hold" and a consensus price target of $56.64.

Insider Activity

In related news, insider David R. Shaman sold 19,348 shares of the 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 sale, the insider owned 647,609 shares in the company, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 20,713 shares of company stock worth $1,180,690. Company insiders own 20.56% of the company's stock.

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.

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