Bentley Systems, Incorporated (NASDAQ:BSY) Shares Acquired by AE Wealth Management LLC

AE Wealth Management LLC boosted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 53.0% in the 2nd quarter, Holdings Channel reports. The firm owned 22,603 shares of the company’s stock after buying an additional 7,834 shares during the period. AE Wealth Management LLC’s holdings in Bentley Systems were worth $1,116,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BSY. Dimensional Fund Advisors LP lifted its position in shares of Bentley Systems by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 589,191 shares of the company’s stock valued at $30,748,000 after acquiring an additional 11,923 shares in the last quarter. Norges Bank purchased a new stake in shares of Bentley Systems in the 4th quarter valued at approximately $16,424,000. UBS Group AG lifted its position in shares of Bentley Systems by 10.4% in the 4th quarter. UBS Group AG now owns 173,744 shares of the company’s stock valued at $9,066,000 after acquiring an additional 16,296 shares in the last quarter. Corient Private Wealth LLC lifted its position in Bentley Systems by 2.7% in the 4th quarter. Corient Private Wealth LLC now owns 19,103 shares of the company’s stock worth $996,000 after buying an additional 509 shares in the last quarter. Finally, Assetmark Inc. lifted its position in Bentley Systems by 133.3% in the 4th quarter. Assetmark Inc. now owns 1,666 shares of the company’s stock worth $87,000 after buying an additional 952 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the transaction, the director now directly owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.12% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and issued a $63.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. The Goldman Sachs Group cut their target price on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.57.

Bentley Systems Stock Performance

NASDAQ BSY opened at $50.44 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 47.14, a P/E/G ratio of 4.08 and a beta of 1.03. The company’s fifty day moving average is $49.17 and its two-hundred day moving average is $50.56. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.08. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The business had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. During the same period in the previous year, the business earned $0.20 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. Equities research analysts forecast that Bentley Systems, Incorporated will post 0.9 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.24 annualized dividend and a dividend yield of 0.48%. Bentley Systems’s dividend payout ratio (DPR) is currently 22.43%.

About Bentley Systems

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.