AE Wealth Management LLC Grows Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

AE Wealth Management LLC increased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 53.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor OS LLC increased its stake in Bentley Systems by 0.7% during the 2nd quarter. Advisor OS LLC now owns 30,983 shares of the company’s stock worth $1,529,000 after buying an additional 226 shares during the period. GAMMA Investing LLC increased its position in shares of Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares during the last quarter. WR Wealth Planners LLC increased its position in shares of Bentley Systems by 4.5% in the 2nd quarter. WR Wealth Planners LLC now owns 6,435 shares of the company’s stock worth $318,000 after purchasing an additional 275 shares during the last quarter. LRI Investments LLC increased its position in shares of Bentley Systems by 6.1% in the 2nd quarter. LRI Investments LLC now owns 5,534 shares of the company’s stock worth $273,000 after purchasing an additional 319 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its position in shares of Bentley Systems by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after purchasing an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BSY. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Monday, September 16th. The Goldman Sachs Group dropped 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. Piper Sandler reissued an “overweight” rating and issued a $63.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.57.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.12% of the stock is currently owned by company insiders.

Bentley Systems Trading Up 0.5 %

Bentley Systems stock opened at $50.44 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. The firm has a 50-day moving average price of $49.17 and a two-hundred day moving average price of $50.56. The firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 47.14, a PEG ratio of 4.08 and a beta of 1.03. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. The firm 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. Sell-side analysts expect that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Dividend Announcement

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

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.