Bentley Systems, Incorporated $BSY Shares Sold by Value Partners Investments Inc.

Key Points

• Value Partners Investments Inc. has reduced its holdings in Bentley Systems by 25.1%, resulting in ownership of 20,196 shares worth approximately $1.1 million.
• Several hedge funds are increasing their stakes in Bentley, with notable increases from Geneos Wealth Management Inc. (1,529.3%) and Twin Tree Management LP (361.9%) during the first quarter.
• Analysts have varying opinions on Bentley Systems, with ratings shifting between "buy," "hold," and "sell," and an average price target set at $56.60.

Value Partners Investments Inc. decreased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 25.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,196 shares of the company's stock after selling 6,774 shares during the quarter. Value Partners Investments Inc.'s holdings in Bentley Systems were worth $1,088,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Axxcess Wealth Management LLC grew 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 valued at $333,000 after purchasing an additional 301 shares during the period. Prentiss Smith & Co. Inc. grew its holdings in shares of Bentley Systems by 0.5% in the first quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company's stock valued at $2,524,000 after purchasing an additional 315 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Bentley Systems by 3.5% in the first quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company's stock valued at $371,000 after purchasing an additional 315 shares during the period. Quantinno Capital Management LP grew its holdings in shares of Bentley Systems by 7.2% in the fourth quarter. Quantinno Capital Management LP now owns 5,261 shares of the company's stock valued at $246,000 after purchasing an additional 354 shares during the period. Finally, Wealth Alliance LLC grew its holdings 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 valued at $313,000 after purchasing an additional 380 shares during the period. Hedge funds and other institutional investors own 44.16% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BSY shares. Wall Street Zen lowered shares of Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. Rosenblatt Securities lowered shares of Bentley Systems from a "buy" rating to a "neutral" rating and upped their price objective for the company from $53.00 to $58.00 in a report on Thursday, August 7th. UBS Group upped their price objective on shares of Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Robert W. Baird set a $64.00 target price on shares of Bentley Systems and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Oppenheimer upped their price objective on shares of Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.60.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 150,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the sale, the director owned 3,859,327 shares of the company's stock, valued at $214,347,021.58. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the firm'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 sale, the insider directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 189,869 shares of company stock worth $10,564,887. 20.56% of the stock is owned by corporate insiders.

Bentley Systems Stock Down 0.2%

Shares of NASDAQ BSY traded down $0.13 during midday trading on Friday, hitting $52.82. The company's stock had a trading volume of 249,167 shares, compared to its average volume of 1,528,151. The business's fifty day simple moving average is $55.11 and its two-hundred day simple moving average is $49.14. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $59.25. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 66.87, a price-to-earnings-growth ratio of 4.26 and a beta of 1.09.

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

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a $0.28 annualized dividend and a yield of 0.5%. Bentley Systems's dividend payout ratio (DPR) is 35.44%.

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.