Swiss National Bank Sells 15,200 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Swiss National Bank trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 664,600 shares of the company’s stock after selling 15,200 shares during the period. Swiss National Bank owned about 0.23% of Bentley Systems worth $34,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Private Trust Co. NA raised its stake in shares of Bentley Systems by 87.3% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $28,000 after acquiring an additional 254 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Bentley Systems by 97.4% during the fourth quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock worth $39,000 after purchasing an additional 371 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Bentley Systems during the 4th quarter valued at $72,000. Global Retirement Partners LLC boosted its position in shares of Bentley Systems by 439.4% in the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the company’s stock worth $73,000 after purchasing an additional 1,226 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Bentley Systems by 46.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,257 shares of the company’s stock worth $113,000 after buying an additional 721 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Up 2.6 %

BSY stock opened at $54.93 on Wednesday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $15.70 billion, a PE ratio of 55.48, a P/E/G ratio of 5.36 and a beta of 1.08. Bentley Systems, Incorporated has a one year low of $41.59 and a one year high of $55.37. The firm’s fifty day moving average is $50.83 and its 200 day moving average is $50.85.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The firm had revenue of $310.64 million for the quarter, compared to analyst estimates of $313.67 million. During the same period last year, the company posted $0.13 EPS. Bentley Systems’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts forecast that Bentley Systems, Incorporated will post 0.82 EPS for the current year.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, March 19th. This represents a $0.24 dividend on an annualized basis and a yield of 0.44%. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.05. Bentley Systems’s payout ratio is 24.24%.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the sale, the director now owns 17,150,752 shares in the company, valued at $943,291,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Keith A. Bentley sold 88,925 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the transaction, the director now owns 17,164,179 shares of the company’s stock, valued at approximately $849,283,576.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The disclosure for this sale can be found here. Insiders own 21.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BSY. William Blair initiated coverage on Bentley Systems in a report on Thursday, March 28th. They issued an “outperform” rating for the company. Piper Sandler reissued an “overweight” rating and set a $60.00 target price on shares of Bentley Systems in a research report on Wednesday, February 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a report on Tuesday, April 30th. Robert W. Baird boosted their price objective on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.44.

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.