Cetera Investment Advisers Has $1.04 Million Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Cetera Investment Advisers trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 25.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,354 shares of the company’s stock after selling 9,046 shares during the period. Cetera Investment Advisers’ holdings in Bentley Systems were worth $1,037,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. City Holding Co. acquired a new position in shares of Bentley Systems during the 1st quarter valued at about $26,000. Larson Financial Group LLC boosted its stake in Bentley Systems by 1,707.1% during the 1st quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock valued at $30,000 after purchasing an additional 717 shares during the period. Fifth Third Bancorp lifted its position in shares of Bentley Systems by 106.6% in the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock worth $33,000 after acquiring an additional 435 shares during the period. HM Payson & Co. bought a new stake in shares of Bentley Systems in the 1st quarter worth approximately $45,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Bentley Systems by 99.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company’s stock worth $56,000 after acquiring an additional 706 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bentley Systems

In other news, insider David R. Shaman sold 19,348 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the transaction, the insider directly owned 647,609 shares of the company’s stock, valued at approximately $36,887,808.64. This represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond B. Bentley sold 122,114 shares of the company’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $50.70, for a total transaction of $6,191,179.80. Following the transaction, the director directly owned 15,347,424 shares of the company’s stock, valued at approximately $778,114,396.80. This trade represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,189,869 shares of company stock worth $60,880,388 in the last ninety days. 20.56% of the stock is owned by company insiders.

Bentley Systems Trading Down 1.1%

Shares of BSY stock opened at $52.91 on Tuesday. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. The firm has a market cap of $15.45 billion, a P/E ratio of 66.98, a PEG ratio of 4.35 and a beta of 1.10. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average of $54.15 and a 200-day moving average of $47.73.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS. Sell-side analysts anticipate 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 dividend of $0.07 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 annualized dividend and a yield of 0.5%. Bentley Systems’s dividend payout ratio is currently 35.44%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BSY. Rosenblatt Securities cut Bentley Systems from a “buy” rating to a “neutral” rating and raised their price target for the company from $53.00 to $58.00 in a report on Thursday, August 7th. Mizuho decreased their price objective on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. KeyCorp lifted their price objective on Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Piper Sandler lifted their target price on Bentley Systems from $57.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their target price on Bentley Systems from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Hold” and a consensus target price of $56.60.

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.