Wealth Alliance Purchases 668 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Wealth Alliance lifted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 9.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,650 shares of the company’s stock after purchasing an additional 668 shares during the period. Wealth Alliance’s holdings in Bentley Systems were worth $378,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BSY. Forsta AP Fonden increased its position in Bentley Systems by 45.0% during the 1st quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $3,316,000 after purchasing an additional 19,700 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of Bentley Systems during the first quarter valued at about $935,000. Vanguard Group Inc. raised its stake in Bentley Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after buying an additional 134,516 shares in the last quarter. Bridgewater Associates LP lifted its holdings in Bentley Systems by 10.5% in the fourth quarter. Bridgewater Associates LP now owns 325,786 shares of the company’s stock worth $17,000,000 after buying an additional 30,982 shares during the period. Finally, Cetera Advisors LLC bought a new stake in Bentley Systems during the 1st quarter valued at approximately $608,000. 44.16% of the stock is owned by institutional investors.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $50.79 on Friday. The business has a fifty day moving average price of $49.11 and a 200-day moving average price of $50.54. 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 company has a market capitalization of $14.65 billion, a PE ratio of 47.47, a PEG ratio of 4.08 and a beta of 1.03. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. The business had revenue of $330.34 million during the quarter, compared to analyst estimates of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. Bentley Systems’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. As a group, equities analysts expect that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. Bentley Systems’s dividend payout ratio is presently 22.43%.

Insider Activity

In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The sale was disclosed in a document filed with the SEC, which is available through this link. 21.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased their price objective on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a report on Monday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.57.

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.