Deutsche Bank AG Has $9.59 Million Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Deutsche Bank AG reduced its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 88.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 243,643 shares of the company’s stock after selling 1,814,396 shares during the period. Deutsche Bank AG owned approximately 0.08% of Bentley Systems worth $9,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Bentley Systems by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock worth $708,114,000 after purchasing an additional 898,115 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Bentley Systems by 8,187,760.9% in the first 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 in the last quarter. AXA S.A. raised its position in shares of Bentley Systems by 7.6% in the fourth quarter. AXA S.A. now owns 1,603,157 shares of the company’s stock valued at $74,867,000 after buying an additional 112,824 shares in the last quarter. Northern Trust Corp raised its position in shares of Bentley Systems by 18.9% in the fourth quarter. Northern Trust Corp now owns 1,439,065 shares of the company’s stock valued at $67,204,000 after buying an additional 228,502 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Bentley Systems by 11.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 871,594 shares of the company’s stock valued at $40,711,000 after buying an additional 90,860 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bentley Systems

In other news, Director Raymond B. Bentley sold 355,103 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $49.96, for a total transaction of $17,740,945.88. Following the transaction, the director owned 15,992,321 shares in the company, valued at approximately $798,976,357.16. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith A. Bentley sold 150,000 shares of the company’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the transaction, the director owned 3,859,327 shares in the company, valued at $214,347,021.58. This represents a 3.74% 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 worth $60,880,388 over the last quarter. Company insiders own 20.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities downgraded shares of Bentley Systems from a “buy” rating to a “neutral” rating and lifted their price target for the company from $53.00 to $58.00 in a research report on Thursday, August 7th. Piper Sandler lifted their price target on shares of Bentley Systems from $57.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. KeyCorp lifted their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Royal Bank Of Canada lifted their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, Oppenheimer lifted their price target on shares of Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Bentley Systems presently has a consensus rating of “Hold” and an average target price of $56.60.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $53.14 on Friday. The stock has a market cap of $15.52 billion, a price-to-earnings ratio of 67.27, a P/E/G ratio of 4.20 and a beta of 1.10. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $59.25. The company’s fifty day moving average is $54.43 and its 200 day moving average is $47.86.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The business had revenue of $364.11 million for the quarter, compared to analyst estimates of $363.51 million. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. Bentley Systems’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. Sell-side analysts forecast 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 was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were issued a $0.07 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 annualized dividend and a yield of 0.5%. Bentley Systems’s payout ratio is presently 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.