City Holding Co. Buys Shares of 660 Bentley Systems, Incorporated (NASDAQ:BSY)

City Holding Co. bought a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 660 shares of the company’s stock, valued at approximately $26,000.

Several other institutional investors and hedge funds have also modified their holdings of BSY. Private Trust Co. NA increased its holdings in Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after buying an additional 378 shares during the last quarter. Atala Financial Inc acquired a new stake in Bentley Systems in the fourth quarter valued at approximately $55,000. Ameriflex Group Inc. bought a new stake in Bentley Systems in the fourth quarter worth approximately $75,000. CIBC Private Wealth Group LLC increased its stake in shares of Bentley Systems by 42.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company’s stock worth $78,000 after purchasing an additional 495 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its stake in shares of Bentley Systems by 76.9% during the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock worth $78,000 after purchasing an additional 728 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

Shares of BSY opened at $47.96 on Wednesday. The company has a market capitalization of $14.00 billion, a PE ratio of 43.21, a price-to-earnings-growth ratio of 3.52 and a beta of 1.07. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $52.42. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The company’s fifty day moving average price is $45.09 and its 200 day moving average price is $45.48.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. The firm had revenue of $370.54 million for the quarter, compared to the consensus estimate of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. As a group, analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $0.28 annualized dividend and a dividend yield of 0.58%. Bentley Systems’s payout ratio is 35.44%.

Insider Transactions at Bentley Systems

In other news, CRO Brock Ballard sold 12,363 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the transaction, the executive now owns 68,064 shares in the company, valued at approximately $3,068,325.12. The trade was a 15.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 20.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BSY shares. Robert W. Baird reduced their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. reduced their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. UBS Group lifted their price objective on shares of Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Wall Street Zen raised shares of Bentley Systems from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, Mizuho reduced their price objective on shares of 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

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.