Steph & Co. Cuts Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Steph & Co. lessened its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,254 shares of the company’s stock after selling 486 shares during the period. Steph & Co.’s holdings in Bentley Systems were worth $170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Trust Co. NA grew its stake in Bentley Systems by 87.3% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $28,000 after buying an additional 254 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Bentley Systems by 261.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 658 shares of the company’s stock valued at $28,000 after purchasing an additional 476 shares in the last quarter. Fifth Third Bancorp boosted 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 valued at $39,000 after purchasing an additional 371 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in shares of Bentley Systems by 43.6% in the 1st quarter. Belpointe Asset Management LLC now owns 757 shares of the company’s stock valued at $33,000 after purchasing an additional 230 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of Bentley Systems by 6,393.8% in the 4th quarter. State of Wyoming now owns 1,039 shares of the company’s stock valued at $38,000 after purchasing an additional 1,023 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 88,925 shares of Bentley Systems stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the sale, the director now owns 17,164,179 shares in the company, valued at $849,283,576.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 21.74% of the company’s stock.

Bentley Systems Stock Performance

Shares of NASDAQ BSY traded up $1.21 during trading on Wednesday, reaching $50.11. 4,208,709 shares of the company traded hands, compared to its average volume of 1,138,154. The firm has a 50 day simple moving average of $50.60 and a 200-day simple moving average of $50.78. 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 capitalization of $14.32 billion, a PE ratio of 49.39, a P/E/G ratio of 4.85 and a beta of 1.10. Bentley Systems, Incorporated has a 52-week low of $40.89 and a 52-week high of $55.37.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 EPS. Equities research analysts anticipate that Bentley Systems, Incorporated will post 0.82 earnings per share for the current year.

Bentley Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Tuesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. Bentley Systems’s dividend payout ratio is 24.24%.

Analyst Upgrades and Downgrades

BSY has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Piper Sandler reiterated an “overweight” rating and set a $60.00 price target on shares of Bentley Systems in a report on Wednesday, February 28th. William Blair initiated coverage on shares of Bentley Systems in a report on Thursday, March 28th. They set an “outperform” rating for the company. Rosenblatt Securities upgraded shares of Bentley Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $54.00 to $60.00 in a report on Monday, February 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy 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 $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.