Valmark Advisers Inc. Has $1.92 Million Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Valmark Advisers Inc. lessened its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,798 shares of the company’s stock after selling 10,122 shares during the quarter. Valmark Advisers Inc.’s holdings in Bentley Systems were worth $1,920,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. City Holding Co. acquired a new position in shares of Bentley Systems during the first quarter valued at $26,000. Fifth Third Bancorp lifted its stake in shares of Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock valued at $33,000 after acquiring an additional 435 shares during the period. Private Trust Co. NA lifted its stake in shares of Bentley Systems by 61.1% during the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after acquiring an additional 378 shares during the period. Atala Financial Inc bought a new stake in Bentley Systems in the fourth quarter valued at about $55,000. Finally, Ameriflex Group Inc. bought a new stake in Bentley Systems in the fourth quarter valued at about $75,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Up 2.2%

Shares of Bentley Systems stock opened at $51.83 on Tuesday. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $52.03. The business has a 50-day moving average of $46.80 and a two-hundred day moving average of $45.48. The company has a market capitalization of $15.13 billion, a P/E 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 (NASDAQ:BSY) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. The company had revenue of $370.54 million during the quarter, compared to the consensus estimate of $366.76 million. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 earnings per share. As a group, equities analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.54%. Bentley Systems’s payout ratio is presently 35.44%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BSY. UBS Group upped their price objective on Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Royal Bank Of Canada upped their price objective on Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Oppenheimer upped their price objective on Bentley Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Mizuho dropped their price objective on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. dropped their price objective on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Insider Buying and Selling

In related news, Director Raymond B. Bentley sold 355,103 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.96, for a total transaction of $17,740,945.88. Following the completion of the transaction, the director now directly owns 15,992,321 shares in the company, valued at approximately $798,976,357.16. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the executive now owns 68,064 shares of the company’s stock, valued at approximately $3,068,325.12. This represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,012,363 shares of company stock worth $50,872,826. 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.