Steph & Co. Sells 1,671 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Steph & Co. lessened its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 51.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,583 shares of the company’s stock after selling 1,671 shares during the period. Steph & Co.’s holdings in Bentley Systems were worth $83,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Bentley Systems by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after purchasing an additional 556,363 shares during the last quarter. Norges Bank purchased a new stake in shares of Bentley Systems during the fourth quarter valued at $16,424,000. International Assets Investment Management LLC bought a new stake in Bentley Systems in the 4th quarter worth about $6,382,000. UBS Group AG raised its position in Bentley Systems by 258.2% in the 3rd quarter. UBS Group AG now owns 157,448 shares of the company’s stock worth $7,898,000 after buying an additional 113,491 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Bentley Systems by 6.5% during the 3rd quarter. Northern Trust Corp now owns 1,625,197 shares of the company’s stock valued at $81,520,000 after acquiring an additional 99,319 shares during the period. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

NASDAQ BSY opened at $50.37 on Tuesday. The business’s fifty day moving average is $52.56 and its 200 day moving average is $51.24. Bentley Systems, Incorporated has a fifty-two week low of $44.76 and a fifty-two week high of $57.19. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market capitalization of $14.53 billion, a PE ratio of 47.08, a price-to-earnings-growth ratio of 4.54 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $337.76 million for the quarter, compared to analysts’ expectations of $335.00 million. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. Sell-side analysts predict that Bentley Systems, Incorporated will post 0.85 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, June 4th were given a $0.06 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. Bentley Systems’s payout ratio is currently 22.43%.

Analysts Set New Price Targets

BSY has been the subject of a number of research analyst reports. William Blair began coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, February 28th. Rosenblatt Securities reissued a “buy” rating and set a $60.00 price target on shares of Bentley Systems in a report on Tuesday, April 30th. Mizuho lifted their price objective on Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $63.00 target price (up previously from $60.00) on shares of Bentley Systems in a report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now owns 17,150,752 shares in the company, valued at approximately $943,291,360. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Bentley Systems news, Director Keith A. Bentley sold 59,420 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $55.01, for a total transaction of $3,268,694.20. Following the completion of the sale, the director now directly owns 16,972,383 shares of the company’s stock, valued at approximately $933,650,788.83. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the sale, the director now owns 17,150,752 shares in the company, valued at approximately $943,291,360. The disclosure for this sale can be found here. Insiders sold a total of 195,390 shares of company stock valued at $10,748,234 over the last three months. Corporate insiders own 21.12% 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.