Raymond James & Associates Boosts Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Raymond James & Associates raised its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 8.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,210,783 shares of the company’s stock after acquiring an additional 91,539 shares during the quarter. Raymond James & Associates owned approximately 0.42% of Bentley Systems worth $63,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Private Trust Co. NA raised its position in shares of Bentley Systems by 87.3% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after buying an additional 254 shares during the period. Fifth Third Bancorp raised its position in shares of Bentley Systems by 97.4% during the fourth quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock worth $39,000 after purchasing an additional 371 shares during the period. Van ECK Associates Corp acquired a new position in Bentley Systems in the fourth quarter worth approximately $72,000. Global Retirement Partners LLC boosted its holdings 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. acquired a new stake in shares of Bentley Systems during the 4th quarter worth about $73,000. 44.16% of the stock is owned by institutional investors.

Bentley Systems Stock Up 2.9 %

Shares of NASDAQ:BSY traded up $1.50 during mid-day trading on Friday, hitting $53.24. 873,200 shares of the company traded hands, compared to its average volume of 2,179,463. Bentley Systems, Incorporated has a 52-week low of $41.59 and a 52-week high of $55.37. The firm has a market cap of $15.22 billion, a P/E ratio of 53.78, a PEG ratio of 5.21 and a beta of 1.08. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55. The firm’s 50 day simple moving average is $50.81 and its 200 day simple moving average is $50.88.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $313.67 million. During the same period in the previous year, the firm earned $0.13 EPS. Bentley Systems’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts anticipate that Bentley Systems, Incorporated will post 0.82 EPS for the current year.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were given a dividend of $0.06 per share. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.24 dividend on an annualized basis and a yield of 0.45%. Bentley Systems’s payout ratio is currently 24.24%.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the firm’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 transaction, the director now owns 17,164,179 shares in the company, valued at $849,283,576.92. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems 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 sale, the director now 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 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 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 sale, 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. Corporate insiders own 21.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BSY shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Bentley Systems in a research report on Tuesday. William Blair started coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They set an “outperform” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. Robert W. Baird boosted their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $60.00 price objective 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.