Rhumbline Advisers Cuts Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Rhumbline Advisers trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,051 shares of the company’s stock after selling 846 shares during the period. Rhumbline Advisers owned about 0.07% of Bentley Systems worth $7,477,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BSY. Sumitomo Mitsui Trust Group Inc. boosted its position in Bentley Systems by 1.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 325,168 shares of the company’s stock valued at $15,185,000 after buying an additional 3,126 shares during the period. Entropy Technologies LP raised its stake in shares of Bentley Systems by 78.0% during the fourth quarter. Entropy Technologies LP now owns 18,484 shares of the company’s stock valued at $863,000 after acquiring an additional 8,102 shares during the last quarter. Equitable Trust Co. bought a new position in shares of Bentley Systems during the fourth quarter valued at about $463,000. Fiera Capital Corp raised its stake in shares of Bentley Systems by 13.2% during the fourth quarter. Fiera Capital Corp now owns 953,246 shares of the company’s stock valued at $44,517,000 after acquiring an additional 111,433 shares during the last quarter. Finally, Valmark Advisers Inc. bought a new position in shares of Bentley Systems during the fourth quarter valued at about $2,752,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bentley Systems

In other news, CRO Brock Ballard sold 12,363 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the sale, the executive now owns 68,064 shares in the company, valued at $3,068,325.12. This represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 20.56% of the company’s stock.

Bentley Systems Price Performance

BSY stock opened at $47.96 on Wednesday. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $52.42. The firm has a 50-day moving average of $45.09 and a 200 day moving average of $45.48. The company has a market cap of $14.00 billion, a P/E ratio of 43.21, a PEG ratio of 3.52 and a beta of 1.07. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business had revenue of $370.54 million during the quarter, compared to the consensus estimate of $366.76 million. During the same quarter last year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Tuesday, June 3rd. Bentley Systems’s dividend payout ratio is 35.44%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Rosenblatt Securities lowered their price objective on shares of Bentley Systems from $62.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Oppenheimer upped their price objective on shares of Bentley Systems from $49.00 to $50.00 and gave the company an “outperform” 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 research note on Thursday, May 22nd. Finally, UBS Group upped their price objective on shares of Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Bentley Systems has an average rating of “Moderate Buy” and a consensus target price of $52.00.

Bentley Systems 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.