Wealth Enhancement Advisory Services LLC Decreases Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Wealth Enhancement Advisory Services LLC cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 12.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,877 shares of the company’s stock after selling 1,376 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Bentley Systems were worth $389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in Bentley Systems by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock valued at $49,161,000 after buying an additional 15,372 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Bentley Systems in the 4th quarter valued at about $809,000. Two Sigma Investments LP lifted its stake in Bentley Systems by 42.3% in the 4th quarter. Two Sigma Investments LP now owns 42,700 shares of the company’s stock valued at $1,994,000 after buying an additional 12,689 shares in the last quarter. Bright Rock Capital Management LLC purchased a new position in Bentley Systems in the 1st quarter valued at about $1,967,000. Finally, Two Sigma Advisers LP purchased a new position in Bentley Systems in the 4th quarter valued at about $243,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bentley Systems

In related news, Director Raymond B. Bentley sold 122,114 shares of Bentley Systems stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $50.70, for a total value of $6,191,179.80. Following the completion of the sale, the director owned 15,347,424 shares in the company, valued at approximately $778,114,396.80. This trade represents a 0.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Brock Ballard sold 12,363 shares of Bentley Systems 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 completion of the sale, the executive owned 68,064 shares of the company’s stock, valued at $3,068,325.12. This trade represents a 15.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,012,363 shares of company stock valued at $50,872,826 in the last quarter. 20.56% of the stock is owned by insiders.

Bentley Systems Stock Up 4.9%

Shares of NASDAQ BSY opened at $56.73 on Monday. The company has a 50 day simple moving average of $48.73 and a 200-day simple moving average of $45.87. The company has a market capitalization of $16.55 billion, a P/E ratio of 71.80, a P/E/G ratio of 4.50 and a beta of 1.09. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $55.50.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $370.54 million during the quarter, compared to the consensus estimate of $366.76 million. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. On average, equities research analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were issued a $0.07 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 annualized dividend and a yield of 0.49%. Bentley Systems’s dividend payout ratio (DPR) is presently 35.44%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. UBS Group raised their target price on shares of Bentley Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Rosenblatt Securities decreased their target price on shares of Bentley Systems from $62.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Oppenheimer raised their target price on shares of Bentley Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Finally, Mizuho decreased their target price on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.