Lbp Am Sa Sells 63,230 Shares of Bentley Systems, Incorporated $BSY

Lbp Am Sa lowered its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 19.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 266,326 shares of the company’s stock after selling 63,230 shares during the quarter. Lbp Am Sa’s holdings in Bentley Systems were worth $14,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Genesis Private Wealth LLC bought a new stake in Bentley Systems in the second quarter valued at about $203,000. Signaturefd LLC increased its stake in Bentley Systems by 26.2% in the second quarter. Signaturefd LLC now owns 3,660 shares of the company’s stock valued at $198,000 after acquiring an additional 760 shares during the period. Public Employees Retirement System of Ohio increased its stake in Bentley Systems by 13.3% in the second quarter. Public Employees Retirement System of Ohio now owns 48,870 shares of the company’s stock valued at $2,638,000 after acquiring an additional 5,723 shares during the period. Covea Finance increased its stake in Bentley Systems by 81.4% in the second quarter. Covea Finance now owns 67,100 shares of the company’s stock valued at $3,621,000 after acquiring an additional 30,100 shares during the period. Finally, Revisor Wealth Management LLC bought a new stake in Bentley Systems in the second quarter valued at about $238,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

Shares of BSY stock opened at $51.51 on Wednesday. The firm’s 50 day moving average is $54.30 and its 200-day moving average is $49.78. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $59.25. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 65.20, a PEG ratio of 4.19 and a beta of 1.09. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The business had revenue of $364.11 million for the quarter, compared to analyst estimates of $363.51 million. During the same period in the prior year, the business posted $0.31 earnings per share. Bentley Systems’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, September 23rd. Bentley Systems’s dividend payout ratio is currently 35.44%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 150,000 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the sale, the director directly owned 3,859,327 shares in the company, valued at approximately $214,347,021.58. This trade represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David R. Shaman sold 19,348 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the sale, the insider owned 647,609 shares in the company, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,869 shares of company stock worth $10,564,887. Company insiders own 20.56% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BSY. Wall Street Zen cut shares of Bentley Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Piper Sandler upped their price objective on shares of Bentley Systems from $57.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. KeyCorp upped their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. The Goldman Sachs Group upped their price objective on shares of Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, August 7th. Finally, Rosenblatt Securities cut shares of Bentley Systems from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $58.00 in a research note on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Bentley Systems has an average rating of “Moderate Buy” and a consensus target price of $56.60.

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.