Blair William & Co. IL Raises Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Blair William & Co. IL lifted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 5.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 18,129 shares of the company’s stock after purchasing an additional 1,005 shares during the period. Blair William & Co. IL’s holdings in Bentley Systems were worth $713,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. City Holding Co. purchased a new position in shares of Bentley Systems during the 1st quarter worth approximately $26,000. Larson Financial Group LLC raised its stake in shares of Bentley Systems by 1,707.1% during the 1st quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock worth $30,000 after buying an additional 717 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Bentley Systems by 106.6% during the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock worth $33,000 after buying an additional 435 shares in the last quarter. HM Payson & Co. purchased a new position in shares of Bentley Systems during the 1st quarter worth approximately $45,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Bentley Systems by 99.0% during the 1st 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. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bentley Systems news, insider David R. Shaman sold 19,348 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the transaction, the insider 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 document filed with the SEC, which is available through this link. Also, Director Raymond B. Bentley sold 355,103 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $49.96, for a total value of $17,740,945.88. Following the transaction, the director directly owned 15,992,321 shares in the company, valued at approximately $798,976,357.16. This represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,189,869 shares of company stock valued at $60,880,388 in the last quarter. 20.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Oppenheimer upped their price target on Bentley Systems from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. KeyCorp upped their price target on Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Piper Sandler upped their price target on Bentley Systems from $57.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday. The Goldman Sachs Group upped their price target on Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday. Finally, Royal Bank Of Canada upped their price target on Bentley Systems from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Bentley Systems has an average rating of “Hold” and an average price target of $56.60.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $53.49 on Monday. The business’s fifty day moving average price is $54.04 and its two-hundred day moving average price is $47.68. The stock has a market cap of $15.62 billion, a PE ratio of 67.71, a price-to-earnings-growth ratio of 4.35 and a beta of 1.10. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $59.25.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $364.11 million for the quarter, compared to analysts’ expectations of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%. Bentley Systems’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 EPS. On average, analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems’s dividend payout ratio is currently 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.