Bentley Systems, Incorporated $BSY Shares Sold by Creative Planning

Creative Planning decreased its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 15.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,146,359 shares of the company’s stock after selling 209,413 shares during the quarter. Creative Planning owned approximately 0.39% of Bentley Systems worth $61,869,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. CWM LLC grew its stake in Bentley Systems by 31.1% during the 1st quarter. CWM LLC now owns 38,413 shares of the company’s stock valued at $1,511,000 after acquiring an additional 9,110 shares in the last quarter. AGF Management Ltd. boosted its holdings in shares of Bentley Systems by 7.4% during the 2nd quarter. AGF Management Ltd. now owns 109,983 shares of the company’s stock worth $5,936,000 after purchasing an additional 7,536 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Bentley Systems by 3.6% in the second quarter. Bessemer Group Inc. now owns 1,951,363 shares of the company’s stock valued at $105,314,000 after purchasing an additional 68,155 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of Bentley Systems by 66.2% in the second quarter. Resona Asset Management Co. Ltd. now owns 78,808 shares of the company’s stock valued at $4,244,000 after purchasing an additional 31,402 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in Bentley Systems during the first quarter worth approximately $333,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $43.17 on Friday. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The company has a 50 day moving average price of $51.02 and a 200 day moving average price of $51.77. The stock has a market capitalization of $12.61 billion, a P/E ratio of 51.39, a PEG ratio of 3.38 and a beta of 1.12.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. Bentley Systems had a return on equity of 28.16% and a net margin of 18.45%.The company had revenue of $375.55 million for the quarter, compared to analysts’ expectations of $369.57 million. During the same period in the prior year, the firm earned $0.24 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. Equities research analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, September 23rd. Bentley Systems’s dividend payout ratio (DPR) is 33.33%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Piper Sandler cut their target price on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, October 8th. The Goldman Sachs Group increased their price target on shares of Bentley Systems from $42.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday, August 7th. 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. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price objective on shares of Bentley Systems in a research report on Thursday, November 6th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.73.

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.