Steph & Co. Sells 451 Shares of Bentley Systems, Incorporated $BSY

Steph & Co. reduced its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 32.4% in the 2nd quarter, Holdings Channel reports. The fund owned 940 shares of the company’s stock after selling 451 shares during the quarter. Steph & Co.’s holdings in Bentley Systems were worth $51,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BSY. City Holding Co. bought a new stake in shares of Bentley Systems in the first quarter worth about $26,000. Geneos Wealth Management Inc. increased its holdings in shares of Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares in the last quarter. Twin Tree Management LP increased its holdings in shares of Bentley Systems by 361.9% in the first quarter. Twin Tree Management LP now owns 739 shares of the company’s stock worth $29,000 after acquiring an additional 579 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock worth $30,000 after acquiring an additional 717 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock worth $33,000 after buying an additional 435 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $52.35 on Friday. The stock has a 50 day moving average price of $54.55 and a 200 day moving average price of $49.56. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $15.29 billion, a PE ratio of 66.27, a price-to-earnings-growth ratio of 4.21 and a beta of 1.09.

Bentley Systems (NASDAQ:BSY) last issued 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. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The firm had revenue of $364.11 million during the quarter, compared to analysts’ expectations of $363.51 million. During the same period in the prior year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a $0.28 annualized dividend and a yield of 0.5%. Bentley Systems’s dividend payout ratio is 35.44%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BSY. KeyCorp upped their price objective on Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Robert W. Baird set a $64.00 price objective on Bentley Systems and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Piper Sandler upped their price objective on Bentley Systems from $57.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Rosenblatt Securities cut Bentley Systems from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $58.00 in a research report on Thursday, August 7th. Finally, Oppenheimer upped their price objective on Bentley Systems from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.60.

Insider Activity at Bentley Systems

In other Bentley Systems news, insider David R. Shaman sold 19,348 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $56.96, for a total value of $1,102,062.08. Following the sale, the insider owned 647,609 shares in the company, valued at $36,887,808.64. This represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Keith A. Bentley sold 150,000 shares of the company’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 value of $8,331,000.00. Following the completion of the sale, 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 189,869 shares of company stock valued at $10,564,887 over the last three months. 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.