Legacy Advisors LLC Buys 417 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Legacy Advisors LLC raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 0.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 193,599 shares of the company’s stock after acquiring an additional 417 shares during the quarter. Bentley Systems comprises 0.8% of Legacy Advisors LLC’s holdings, making the stock its 23rd largest position. Legacy Advisors LLC’s holdings in Bentley Systems were worth $7,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Asset Management One Co. Ltd. increased its holdings in shares of Bentley Systems by 4.0% during the first quarter. Asset Management One Co. Ltd. now owns 60,990 shares of the company’s stock worth $2,399,000 after purchasing an additional 2,332 shares during the period. Covea Finance increased its holdings in shares of Bentley Systems by 33.6% during the first quarter. Covea Finance now owns 37,000 shares of the company’s stock worth $1,456,000 after purchasing an additional 9,300 shares during the period. Prentiss Smith & Co. Inc. increased its holdings in shares of Bentley Systems by 0.5% during the first quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company’s stock worth $2,524,000 after purchasing an additional 315 shares during the period. Bar Harbor Wealth Management increased its holdings in shares of Bentley Systems by 5.7% during the first quarter. Bar Harbor Wealth Management now owns 190,441 shares of the company’s stock worth $7,492,000 after purchasing an additional 10,301 shares during the period. Finally, Bright Rock Capital Management LLC bought a new position in shares of Bentley Systems during the first quarter worth approximately $1,967,000. 44.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BSY shares. Royal Bank Of Canada raised their target price on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Robert W. Baird lowered their target price on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. KeyCorp raised their target price on shares of Bentley Systems from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Mizuho decreased their price objective on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, 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. One equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Bentley Systems Stock Performance

Shares of NASDAQ:BSY opened at $51.83 on Tuesday. The company’s 50 day simple moving average is $46.80 and its 200 day simple moving average is $45.48. The stock has a market capitalization of $15.13 billion, a price-to-earnings ratio of 65.61, a price-to-earnings-growth ratio of 4.26 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $52.03.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The firm had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. During the same quarter last year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd were given a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.54%. Bentley Systems’s dividend payout ratio is currently 35.44%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total value of $557,324.04. Following the sale, the executive now owns 68,064 shares in the company, 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 SEC, which is available at this link. Also, Director Raymond B. Bentley sold 273,094 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $50.30, for a total transaction of $13,736,628.20. Following the completion of the sale, the director now owns 15,719,227 shares in the company, valued at $790,677,118.10. This represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,012,363 shares of company stock worth $50,872,826 over the last quarter. Corporate insiders own 20.56% of the company’s stock.

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.