Natixis Advisors LLC Cuts Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Natixis Advisors LLC lowered its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 21.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,311 shares of the company’s stock after selling 5,136 shares during the period. Natixis Advisors LLC’s holdings in Bentley Systems were worth $760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new stake in Bentley Systems in the 4th quarter worth approximately $422,000. O Shaughnessy Asset Management LLC boosted its stake in Bentley Systems by 46.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,377 shares of the company’s stock worth $298,000 after purchasing an additional 2,015 shares in the last quarter. FIL Ltd boosted its stake in Bentley Systems by 100.5% in the 4th quarter. FIL Ltd now owns 7,384 shares of the company’s stock worth $345,000 after purchasing an additional 3,702 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Bentley Systems by 526.0% in the 4th quarter. Renaissance Technologies LLC now owns 274,800 shares of the company’s stock worth $12,833,000 after purchasing an additional 230,900 shares in the last quarter. Finally, APG Asset Management N.V. boosted its stake in Bentley Systems by 44.8% in the 4th quarter. APG Asset Management N.V. now owns 7,426 shares of the company’s stock worth $335,000 after purchasing an additional 2,298 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Activity

In related news, Director Keith A. Bentley sold 150,000 shares of the business’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the completion of the sale, the director owned 3,859,327 shares of the company’s stock, valued at approximately $214,347,021.58. The trade was a 3.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the business’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the sale, the insider directly owned 647,609 shares of the company’s stock, valued at approximately $36,887,808.64. The trade was a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,189,869 shares of company stock valued at $60,880,388 in the last three months. 20.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BSY has been the subject of a number of recent analyst reports. Oppenheimer lifted their target price on shares of Bentley Systems from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday. KeyCorp lifted their target price on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Wall Street Zen cut shares of Bentley Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Piper Sandler lifted their price objective on shares of Bentley Systems from $57.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, The Goldman Sachs Group lifted their price objective on shares of Bentley Systems from $42.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.60.

Bentley Systems Price Performance

NASDAQ:BSY opened at $53.49 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 67.71, a price-to-earnings-growth ratio of 4.35 and a beta of 1.10. The company has a 50 day moving average price of $54.04 and a 200-day moving average price of $47.68. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $59.25.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. The firm had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. Equities research analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems’s payout ratio is 35.44%.

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 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.