LPL Financial LLC Has $2.70 Million Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

LPL Financial LLC grew its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 10.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,678 shares of the company’s stock after buying an additional 5,804 shares during the quarter. LPL Financial LLC’s holdings in Bentley Systems were worth $2,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in BSY. Raymond James Financial Services Advisors Inc. bought a new stake in Bentley Systems in the first quarter valued at $241,000. US Bancorp DE grew its position in Bentley Systems by 250.8% in the first quarter. US Bancorp DE now owns 4,806 shares of the company’s stock valued at $213,000 after acquiring an additional 3,436 shares during the period. HighTower Advisors LLC grew its position in 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 acquiring an additional 5,114 shares during the period. Citigroup Inc. boosted its stake in Bentley Systems by 31.2% in the first quarter. Citigroup Inc. now owns 71,746 shares of the company’s stock worth $3,170,000 after purchasing an additional 17,080 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake 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 acquiring an additional 931 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Gregory S. Bentley sold 41,601 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $52.95, for a total value of $2,202,772.95. Following the transaction, the chief executive officer now directly owns 7,965,230 shares of the company’s stock, valued at approximately $421,758,928.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gregory S. Bentley sold 57,696 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $53.08, for a total transaction of $3,062,503.68. Following the transaction, the chief executive officer now directly owns 8,070,445 shares of the company’s stock, valued at approximately $428,379,220.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gregory S. Bentley sold 41,601 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $52.95, for a total value of $2,202,772.95. Following the transaction, the chief executive officer now directly owns 7,965,230 shares in the company, valued at $421,758,928.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 190,962 shares of company stock valued at $10,170,102. 22.53% of the stock is currently owned by company insiders.

Bentley Systems Trading Down 0.9 %

Shares of BSY stock opened at $49.73 on Wednesday. The firm has a market capitalization of $14.09 billion, a P/E ratio of 101.49, a P/E/G ratio of 8.66 and a beta of 1.21. Bentley Systems, Incorporated has a twelve month low of $30.51 and a twelve month high of $55.37. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 2.53. The stock’s fifty day simple moving average is $50.95 and its 200 day simple moving average is $46.79.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Tuesday, August 8th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.15 by $0.05. The firm had revenue of $296.75 million for the quarter, compared to the consensus estimate of $295.78 million. Bentley Systems had a return on equity of 36.80% and a net margin of 13.45%. As a group, sell-side analysts predict that Bentley Systems, Incorporated will post 0.7 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Tuesday, August 15th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, August 14th. Bentley Systems’s payout ratio is presently 40.82%.

Wall Street Analyst Weigh In

BSY has been the subject of several recent analyst reports. Robert W. Baird increased their price target on Bentley Systems from $48.00 to $50.00 in a report on Wednesday, May 10th. Royal Bank of Canada raised their price objective on Bentley Systems from $53.00 to $59.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. KeyCorp lifted their price target on Bentley Systems from $53.00 to $61.00 in a research note on Thursday, July 20th. Piper Sandler reiterated an “overweight” rating and issued a $60.00 price target on shares of Bentley Systems in a research note on Thursday, August 10th. Finally, Griffin Securities upgraded Bentley Systems from a “neutral” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Wednesday, May 10th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus price target of $55.67.

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 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.