Venturi Wealth Management LLC Decreases Stock Position in Bentley Systems, Incorporated $BSY

Venturi Wealth Management LLC cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 52.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,481 shares of the company’s stock after selling 4,957 shares during the quarter. Venturi Wealth Management LLC’s holdings in Bentley Systems were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Bentley Systems by 5.3% in the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock valued at $708,114,000 after buying an additional 898,115 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Bentley Systems by 1.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company’s stock valued at $636,027,000 after buying an additional 160,496 shares during the last quarter. Swedbank AB raised its stake in Bentley Systems by 1.6% in the first quarter. Swedbank AB now owns 7,119,208 shares of the company’s stock valued at $280,070,000 after buying an additional 111,884 shares during the last quarter. Bessemer Group Inc. raised its stake in Bentley Systems by 8,187,760.9% in the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company’s stock valued at $74,086,000 after buying an additional 1,883,185 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Bentley Systems by 2.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 895,213 shares of the company’s stock worth $35,218,000 after purchasing an additional 24,258 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Down 2.7%

Bentley Systems stock opened at $49.33 on Friday. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 62.44, a price-to-earnings-growth ratio of 4.09 and a beta of 1.07. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25. The business’s 50-day moving average price is $53.45 and its 200 day moving average price is $50.32. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07.

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

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 23rd. Bentley Systems’s dividend payout ratio (DPR) is presently 35.44%.

Insider Buying and Selling

In other Bentley Systems news, insider David R. Shaman sold 19,348 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $56.96, for a total value of $1,102,062.08. Following the sale, the insider directly owned 647,609 shares of the company’s stock, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 20.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on BSY shares. Wall Street Zen lowered Bentley Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Robert W. Baird set a $64.00 price objective on shares of Bentley Systems and gave the company an “outperform” rating in a report on Wednesday, July 30th. Piper Sandler raised their target price on shares of Bentley Systems from $57.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. KeyCorp upped their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the company an “overweight” rating in a report on Monday, July 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bentley Systems in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.64.

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.