Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its position in Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating) by 7.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,893 shares of the company’s stock after selling 1,000 shares during the quarter. TD Asset Management Inc’s holdings in Bentley Systems were worth $440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BSY. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Bentley Systems during the 1st quarter valued at $241,000. US Bancorp DE lifted its stake in Bentley Systems by 250.8% during the first quarter. US Bancorp DE now owns 4,806 shares of the company’s stock valued at $213,000 after purchasing an additional 3,436 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Bentley Systems by 96.7% in the first quarter. HighTower Advisors LLC now owns 10,401 shares of the company’s stock valued at $459,000 after buying an additional 5,114 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Bentley Systems by 31.2% in the 1st quarter. Citigroup Inc. now owns 71,746 shares of the company’s stock worth $3,170,000 after acquiring an additional 17,080 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Bentley Systems by 315.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,226 shares of the company’s stock valued at $55,000 after purchasing an additional 931 shares during the last quarter. Institutional investors own 36.12% of the company’s stock.

Bentley Systems Stock Performance

Shares of NASDAQ:BSY opened at $45.22 on Friday. Bentley Systems, Incorporated has a twelve month low of $27.12 and a twelve month high of $46.97. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $13.13 billion, a PE ratio of 88.67, a price-to-earnings-growth ratio of 7.92 and a beta of 1.20. The business has a fifty day moving average of $41.92 and a 200-day moving average of $39.45.

Bentley Systems (NASDAQ:BSY – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Bentley Systems had a return on equity of 41.48% and a net margin of 15.90%. The business had revenue of $287.00 million for the quarter, compared to analysts’ expectations of $280.85 million. During the same quarter in the previous year, the business posted $0.18 EPS. Bentley Systems’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts predict that Bentley Systems, Incorporated will post 0.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on BSY. Mizuho boosted their target price on shares of Bentley Systems from $45.00 to $51.00 in a research note on Wednesday. KeyCorp increased their price target on shares of Bentley Systems from $47.00 to $53.00 in a research report on Wednesday. The Goldman Sachs Group downgraded shares of Bentley Systems from a “buy” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $47.00 in a research report on Thursday. Royal Bank of Canada lifted their price objective on Bentley Systems from $47.00 to $53.00 in a research report on Wednesday. Finally, Griffin Securities upgraded Bentley Systems from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.78.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Barry J. Bentley sold 50,830 shares of the business’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $42.51, for a total transaction of $2,160,783.30. Following the transaction, the director now owns 12,594,258 shares of the company’s stock, valued at approximately $535,381,907.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bentley Systems news, insider David R. Shaman sold 6,454 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $45.05, for a total transaction of $290,752.70. Following the transaction, the insider now owns 568,799 shares of the company’s stock, valued at approximately $25,624,394.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry J. Bentley sold 50,830 shares of the business’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $42.51, for a total value of $2,160,783.30. Following the transaction, the director now directly owns 12,594,258 shares in the company, valued at approximately $535,381,907.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 138,007 shares of company stock valued at $5,883,060. 21.74% of the stock is owned by insiders.

Bentley Systems Company Profile

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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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.