Heritage Family Offices LLP increased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY – Free Report) by 28.2% in the first quarter, Holdings Channel reports. The firm owned 13,752 shares of the company’s stock after acquiring an additional 3,021 shares during the period. Heritage Family Offices LLP’s holdings in Bentley Systems were worth $541,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of BSY. Private Trust Co. NA increased its position in Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after purchasing an additional 378 shares in the last quarter. Tobam purchased a new position in Bentley Systems in the 4th quarter worth approximately $55,000. Atala Financial Inc purchased a new position in Bentley Systems in the 4th quarter worth approximately $55,000. Ameriflex Group Inc. purchased a new position in Bentley Systems in the 4th quarter worth approximately $75,000. Finally, Tortoise Investment Management LLC boosted its holdings in Bentley Systems by 76.9% in the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock worth $78,000 after acquiring an additional 728 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Wall Street Zen upgraded Bentley Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. KeyCorp increased their target price on Bentley Systems from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. The Goldman Sachs Group cut Bentley Systems from a “neutral” rating to a “sell” rating and reduced their target price for the company from $51.00 to $42.00 in a research note on Friday, February 28th. Royal Bank of Canada increased their target price on Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, Mizuho reduced their target price on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.
Bentley Systems Stock Performance
BSY stock opened at $47.64 on Tuesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a market cap of $13.90 billion, a P/E ratio of 42.92, a P/E/G ratio of 3.52 and a beta of 1.05. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $52.42. The stock’s 50 day simple moving average is $44.10 and its 200 day simple moving average is $45.42.
Bentley Systems (NASDAQ:BSY – Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The firm had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. During the same period last year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.
Bentley Systems Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, June 3rd. Bentley Systems’s dividend payout ratio is presently 35.44%.
Insiders Place Their Bets
In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the sale, the executive now directly owns 68,064 shares of the company’s stock, valued at $3,068,325.12. This trade represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 20.56% of the stock is owned by corporate insiders.
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.
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