Commonwealth Equity Services LLC Sells 30,481 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Commonwealth Equity Services LLC trimmed its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 46.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,741 shares of the company’s stock after selling 30,481 shares during the period. Commonwealth Equity Services LLC’s holdings in Bentley Systems were worth $1,715,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in Bentley Systems by 4,618.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after acquiring an additional 508 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Bentley Systems by 90.1% during 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. Blue Trust Inc. grew its stake in Bentley Systems by 68,500.0% in the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after buying an additional 685 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Bentley Systems by 496.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 900 shares of the company’s stock valued at $47,000 after buying an additional 749 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in Bentley Systems in the 2nd quarter valued at approximately $58,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BSY has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and set a $63.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group lowered their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.57.

Insider Transactions at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the sale, the director now directly owns 16,598,656 shares in the company, valued at $820,471,566.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

Shares of BSY opened at $49.57 on Friday. The firm’s 50-day simple moving average is $49.03 and its two-hundred day simple moving average is $50.56. The stock has a market cap of $14.30 billion, a PE ratio of 46.33, a price-to-earnings-growth ratio of 4.08 and a beta of 1.03. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49.

Bentley Systems (NASDAQ:BSY) last issued 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. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The company had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts anticipate that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

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

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.