Raymond James & Associates Grows Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Raymond James & Associates lifted its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 8.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,210,783 shares of the company’s stock after buying an additional 91,539 shares during the period. Raymond James & Associates’ holdings in Bentley Systems were worth $63,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in BSY. Private Trust Co. NA raised its position in Bentley Systems by 87.3% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $28,000 after acquiring an additional 254 shares during the period. Fifth Third Bancorp increased its stake in shares of Bentley Systems by 97.4% in the 4th quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock worth $39,000 after purchasing an additional 371 shares in the last quarter. Van ECK Associates Corp bought a new position in Bentley Systems in the 4th quarter worth $72,000. Global Retirement Partners LLC lifted its position in Bentley Systems by 439.4% during the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the company’s stock valued at $73,000 after purchasing an additional 1,226 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in Bentley Systems during the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the firm’s 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 completion of the transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Keith A. Bentley sold 17,021 shares of the business’s 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 completion of the transaction, the director now directly owns 17,150,752 shares in the company, valued at approximately $943,291,360. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Keith A. Bentley sold 88,925 shares of the company’s stock in a transaction dated 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 owns 17,164,179 shares of the company’s stock, valued at approximately $849,283,576.92. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by insiders.

Bentley Systems Stock Up 2.9 %

BSY traded up $1.50 on Friday, hitting $53.24. The company had a trading volume of 873,200 shares, compared to its average volume of 2,179,463. The stock has a market capitalization of $15.22 billion, a price-to-earnings ratio of 53.78, a P/E/G ratio of 5.21 and a beta of 1.08. The stock has a fifty day moving average price of $50.81 and a 200-day moving average price of $50.88. Bentley Systems, Incorporated has a 12-month low of $41.59 and a 12-month high of $55.37. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55.

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

Bentley Systems Increases Dividend

The company also recently announced 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 a positive change from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 19th. This represents a $0.24 dividend on an annualized basis and a yield of 0.45%. Bentley Systems’s dividend payout ratio (DPR) is 24.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BSY shares. William Blair started coverage on Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating on the stock. Rosenblatt Securities restated a “buy” rating and set a $60.00 target price on shares of Bentley Systems in a research note on Tuesday. Robert W. Baird upped their price target 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. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, February 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.