Bentley Systems, Incorporated (NASDAQ:BSY) Stake Lowered by Parallel Advisors LLC

Parallel Advisors LLC cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 79.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 862 shares of the company’s stock after selling 3,314 shares during the quarter. Parallel Advisors LLC’s holdings in Bentley Systems were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC grew its stake in Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock valued at $340,000 after purchasing an additional 254 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Bentley Systems by 3.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock valued at $469,000 after purchasing an additional 317 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Bentley Systems by 7.2% during the 4th quarter. Quantinno Capital Management LP now owns 5,261 shares of the company’s stock valued at $246,000 after purchasing an additional 354 shares in the last quarter. Prudential PLC lifted its stake in shares of Bentley Systems by 0.6% in the 4th quarter. Prudential PLC now owns 63,008 shares of the company’s stock valued at $2,942,000 after purchasing an additional 371 shares during the last quarter. Finally, Private Trust Co. NA increased its position in Bentley Systems by 61.1% during the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after buying an additional 378 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BSY shares. The Goldman Sachs Group lowered shares of Bentley Systems from a “neutral” rating to a “sell” rating and dropped their price target for the company from $51.00 to $42.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. KeyCorp upped their target price on Bentley Systems from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Wall Street Zen raised shares of Bentley Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, UBS Group upped their price objective on Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Bentley Systems Price Performance

NASDAQ BSY opened at $47.79 on Tuesday. The firm’s 50 day moving average is $44.93 and its 200-day moving average is $45.46. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $52.42. The company has a market capitalization of $13.95 billion, a PE ratio of 43.05, a price-to-earnings-growth ratio of 3.52 and a beta of 1.07.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The company had revenue of $370.54 million during the quarter, compared to analysts’ expectations of $366.76 million. During the same period last year, the firm posted $0.31 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Equities research analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, June 3rd. Bentley Systems’s dividend payout ratio (DPR) is presently 35.44%.

Insider Buying and Selling

In related news, CRO Brock Ballard sold 12,363 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction of $557,324.04. Following the completion of the sale, the executive now directly owns 68,064 shares in the company, valued at $3,068,325.12. This represents a 15.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 20.56% of the stock is currently owned by company insiders.

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.