Sumitomo Mitsui Trust Group Inc. Sells 1,794 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 0.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 323,374 shares of the company’s stock after selling 1,794 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Bentley Systems were worth $12,722,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Bentley Systems by 99.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company’s stock valued at $56,000 after purchasing an additional 706 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Bentley Systems by 8,187,760.9% during the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company’s stock valued at $74,086,000 after purchasing an additional 1,883,185 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Bentley Systems during the first quarter valued at approximately $1,612,000. Cooper Investors PTY Ltd. bought a new stake in shares of Bentley Systems during the first quarter valued at approximately $4,765,000. Finally, Asset Management One Co. Ltd. boosted its position in shares of Bentley Systems by 4.0% during the first quarter. Asset Management One Co. Ltd. now owns 60,990 shares of the company’s stock valued at $2,399,000 after purchasing an additional 2,332 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered Bentley Systems from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank Of Canada lifted their price target on Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Rosenblatt Securities dropped their price target on Bentley Systems from $62.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Oppenheimer lifted their price target on Bentley Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. dropped their target price on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Bentley Systems Stock Up 4.9%

BSY stock opened at $56.73 on Friday. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $55.50. The business has a fifty day moving average price of $48.46 and a 200-day moving average price of $45.84. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market capitalization of $16.55 billion, a P/E ratio of 71.80, a P/E/G ratio of 4.40 and a beta of 1.09.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The firm had revenue of $370.54 million during the quarter, compared to analysts’ expectations of $366.76 million. During the same quarter in the previous year, the business earned $0.31 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. Equities analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems’s dividend payout ratio is currently 35.44%.

Insider Buying and Selling at Bentley Systems

In other news, Director Raymond B. Bentley sold 355,103 shares of the business’s 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 completion of the transaction, the director owned 15,992,321 shares in the company, valued at $798,976,357.16. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Brock Ballard sold 12,363 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the completion of the transaction, the executive owned 68,064 shares of the company’s stock, valued at $3,068,325.12. This represents a 15.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,012,363 shares of company stock valued at $50,872,826 in the last 90 days. Company insiders own 20.56% of the company’s stock.

Bentley Systems 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.