Bentley Systems, Incorporated $BSY Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 41.1% in the first quarter, Holdings Channel.com reports. The fund owned 1,277,419 shares of the company’s stock after selling 890,452 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Bentley Systems were worth $44,863,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BSY. Los Angeles Capital Management LLC acquired a new position in shares of Bentley Systems in the 4th quarter worth $25,000. Geneos Wealth Management Inc. boosted its position in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after purchasing an additional 627 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Bentley Systems in the 3rd quarter valued at $37,000. IFP Advisors Inc increased its stake in Bentley Systems by 174.5% in the 3rd quarter. IFP Advisors Inc now owns 763 shares of the company’s stock worth $39,000 after purchasing an additional 485 shares in the last quarter. Finally, Physician Wealth Advisors Inc. raised its holdings in Bentley Systems by 80.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock worth $28,000 after buying an additional 352 shares during the period. 44.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on BSY. Mizuho decreased their target price on shares of Bentley Systems from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Barclays decreased their price objective on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, May 29th. Zacks Research downgraded shares of Bentley Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Weiss Ratings raised Bentley Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 30th. Finally, Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $42.00 to $45.00 in a report on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.54.

Bentley Systems Stock Up 0.2%

Shares of NASDAQ BSY traded up $0.06 during mid-day trading on Friday, reaching $31.67. The company had a trading volume of 1,378,002 shares, compared to its average volume of 3,662,048. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.03 and a beta of 1.00. The stock has a fifty day moving average of $31.80 and a two-hundred day moving average of $34.73. Bentley Systems, Incorporated has a 12-month low of $28.08 and a 12-month high of $59.25.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, equities research analysts expect that Bentley Systems, Incorporated will post 1.2 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s payout ratio is currently 31.82%.

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.