Natixis Advisors LLC Reduces Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Natixis Advisors LLC decreased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 21.0% during the 1st quarter, HoldingsChannel reports. The fund owned 19,311 shares of the company’s stock after selling 5,136 shares during the quarter. Natixis Advisors LLC’s holdings in Bentley Systems were worth $760,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BSY. City Holding Co. acquired a new position in shares of Bentley Systems during the 1st quarter valued at about $26,000. Larson Financial Group LLC lifted its position in Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock valued at $30,000 after buying an additional 717 shares during the last quarter. Fifth Third Bancorp lifted its position in Bentley Systems by 106.6% in the first quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock valued at $33,000 after buying an additional 435 shares during the last quarter. HM Payson & Co. acquired a new position in Bentley Systems in the first quarter valued at about $45,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Bentley Systems by 99.0% in the first 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. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Down 0.1%

BSY stock opened at $53.49 on Monday. The company’s 50 day moving average price is $54.04 and its 200 day moving average price is $47.68. 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 fifty-two week low of $36.51 and a fifty-two week high of $59.25. The firm has a market capitalization of $15.62 billion, a price-to-earnings ratio of 67.71, a PEG ratio of 4.35 and a beta of 1.10.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. The company 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%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. On average, equities research analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, June 3rd. Bentley Systems’s dividend payout ratio is currently 35.44%.

Analysts Set New Price Targets

A number of research analysts have commented on BSY shares. 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. Royal Bank Of Canada increased their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Piper Sandler increased their price target on shares of Bentley Systems from $57.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday. KeyCorp increased their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Finally, Wall Street Zen cut shares of Bentley Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.60.

Insider Buying and Selling at Bentley Systems

In other 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 transaction of $8,331,000.00. Following the transaction, the director directly owned 3,859,327 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, Director Raymond B. Bentley sold 355,103 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was 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 trade represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,189,869 shares of company stock worth $60,880,388 over the last three months. Insiders own 20.56% of the company’s stock.

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.