Wealth Enhancement Advisory Services LLC Raises Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Wealth Enhancement Advisory Services LLC grew its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 94.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,499 shares of the company’s stock after acquiring an additional 5,596 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Bentley Systems were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Advisor OS LLC increased its holdings in Bentley Systems by 0.7% in the 2nd quarter. Advisor OS LLC now owns 30,983 shares of the company’s stock valued at $1,529,000 after acquiring an additional 226 shares during the last quarter. Magnolia Capital Advisors LLC grew its position in shares of Bentley Systems by 5.4% during the second quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company’s stock valued at $242,000 after purchasing an additional 249 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Bentley Systems by 90.1% in the second 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 lifted its position in shares of Bentley Systems by 4.5% in the second quarter. WR Wealth Planners LLC now owns 6,435 shares of the company’s stock worth $318,000 after buying an additional 275 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after buying an additional 276 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Up 2.3 %

BSY stock opened at $51.09 on Friday. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. The stock has a market capitalization of $14.85 billion, a price-to-earnings ratio of 44.82, a price-to-earnings-growth ratio of 4.10 and a beta of 1.04. 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’s fifty day simple moving average is $49.55 and its two-hundred day simple moving average is $50.43.

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

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.06 per share. The ex-dividend date was 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 21.05%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Bentley Systems

In other news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the sale, the director now directly owns 12,298,230 shares of the company’s stock, valued at approximately $617,371,146. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Bentley Systems news, Director Barry J. Bentley sold 34,987 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the transaction, the director now directly owns 12,213,248 shares in the company, valued at $590,754,805.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total value of $2,510,000.00. Following the completion of the sale, the director now owns 12,298,230 shares of the company’s stock, valued at $617,371,146. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 326,032 shares of company stock worth $16,168,176. 21.12% of the stock is currently owned by company insiders.

Bentley Systems 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.