M&T Bank Corp Decreases Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

M&T Bank Corp lowered its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 4.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 54,724 shares of the company’s stock after selling 2,732 shares during the quarter. M&T Bank Corp’s holdings in Bentley Systems were worth $2,856,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BSY. Private Trust Co. NA boosted its position in shares of Bentley Systems by 87.3% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after purchasing an additional 254 shares during the period. Fifth Third Bancorp lifted its stake in Bentley Systems by 97.4% in the fourth quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock valued at $39,000 after buying an additional 371 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Bentley Systems in the fourth quarter valued at approximately $72,000. Global Retirement Partners LLC increased its holdings in shares of Bentley Systems by 439.4% in the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the company’s stock valued at $73,000 after acquiring an additional 1,226 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Bentley Systems by 46.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,257 shares of the company’s stock valued at $113,000 after purchasing an additional 721 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $54.93 on Wednesday. The firm’s fifty day simple moving average is $50.83 and its 200-day simple moving average is $50.85. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72. The stock has a market cap of $15.70 billion, a PE ratio of 55.48, a price-to-earnings-growth ratio of 5.36 and a beta of 1.08. Bentley Systems, Incorporated has a fifty-two week low of $41.59 and a fifty-two week high of $55.37.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The company had revenue of $310.64 million for the quarter, compared to analyst estimates of $313.67 million. During the same period in the prior year, the business posted $0.13 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts expect that Bentley Systems, Incorporated will post 0.82 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were paid a $0.06 dividend. This is an increase from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is presently 24.24%.

Insiders Place Their Bets

In other news, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the transaction, the director now owns 17,150,752 shares in the company, valued at $943,291,360. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Keith A. Bentley sold 88,925 shares of Bentley Systems stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the completion of the transaction, the director now directly owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value 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. 21.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BSY. 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. William Blair assumed coverage on Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating on the stock. Piper Sandler restated an “overweight” rating and set a $60.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, February 28th. Finally, Robert W. Baird upped their price objective on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.44.

Bentley Systems Company 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.