Bentley Systems, Incorporated $BSY Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 15.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,684 shares of the company’s stock after selling 19,635 shares during the quarter. NewEdge Wealth LLC’s holdings in Bentley Systems were worth $4,033,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Shell Asset Management Co. lifted its holdings in shares of Bentley Systems by 4.8% during the third quarter. Shell Asset Management Co. now owns 5,421 shares of the company’s stock worth $279,000 after purchasing an additional 246 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Bentley Systems by 2.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company’s stock worth $589,000 after purchasing an additional 247 shares during the period. BLB&B Advisors LLC lifted its holdings in shares of Bentley Systems by 0.5% during the third quarter. BLB&B Advisors LLC now owns 52,361 shares of the company’s stock worth $2,696,000 after purchasing an additional 261 shares during the period. Lansforsakringar Fondforvaltning AB publ lifted its holdings in shares of Bentley Systems by 0.6% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 49,722 shares of the company’s stock worth $2,560,000 after purchasing an additional 275 shares during the period. Finally, Cresset Asset Management LLC raised its position in Bentley Systems by 6.5% in the third quarter. Cresset Asset Management LLC now owns 4,882 shares of the company’s stock worth $251,000 after acquiring an additional 296 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BSY has been the subject of several research analyst reports. Oppenheimer cut their price objective on Bentley Systems from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Barclays increased their price objective on Bentley Systems from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, March 6th. Weiss Ratings cut Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. Zacks Research upgraded Bentley Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. Finally, Rosenblatt Securities cut their price objective on Bentley Systems from $58.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.33.

Bentley Systems Trading Down 0.4%

NASDAQ:BSY opened at $32.64 on Tuesday. The stock has a fifty day moving average price of $35.50 and a two-hundred day moving average price of $38.57. The stock has a market capitalization of $9.54 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.20 and a beta of 1.01. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. Bentley Systems, Incorporated has a 1 year low of $30.83 and a 1 year high of $59.25.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The business had revenue of $424.18 million during the quarter, compared to analysts’ expectations of $419.80 million. During the same quarter last year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Bentley Systems, Incorporated will post 1.23 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Tuesday, March 10th were given a $0.07 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. Bentley Systems’s dividend payout ratio (DPR) is currently 31.82%.

Bentley Systems Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.