US Bancorp DE Lowers Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

US Bancorp DE trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 12.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,548 shares of the company’s stock after selling 891 shares during the period. US Bancorp DE’s holdings in Bentley Systems were worth $258,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Two Sigma Investments LP lifted its holdings in shares of Bentley Systems by 42.3% during the fourth quarter. Two Sigma Investments LP now owns 42,700 shares of the company’s stock valued at $1,994,000 after purchasing an additional 12,689 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Bentley Systems during the first quarter valued at approximately $920,000. Bright Rock Capital Management LLC purchased a new position in shares of Bentley Systems during the first quarter valued at approximately $1,967,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Bentley Systems by 99.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company’s stock valued at $56,000 after purchasing an additional 706 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Bentley Systems by 8,187,760.9% during the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company’s stock valued at $74,086,000 after acquiring an additional 1,883,185 shares in the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BSY. Piper Sandler raised their price target on shares of Bentley Systems from $57.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Robert W. Baird set a $64.00 price target on shares of Bentley Systems and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Wall Street Zen downgraded shares of Bentley Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Rosenblatt Securities downgraded shares of 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 research report on Thursday, August 7th. Finally, Royal Bank Of Canada raised their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a research 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.60.

Insider Transactions at Bentley Systems

In other news, Director Raymond B. Bentley sold 355,103 shares of Bentley Systems stock in a transaction on Monday, June 16th. The shares were sold at an average price of $49.96, for a total transaction of $17,740,945.88. Following the transaction, the director owned 15,992,321 shares in the company, valued at $798,976,357.16. This trade represents a 2.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of Bentley Systems 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 transaction, the insider owned 647,609 shares in the company, valued at $36,887,808.64. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,189,869 shares of company stock worth $60,880,388 in the last 90 days. 20.56% of the stock is currently owned by insiders.

Bentley Systems Trading Down 0.7%

NASDAQ:BSY opened at $51.72 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $59.25. The company has a market cap of $15.11 billion, a PE ratio of 65.47, a price-to-earnings-growth ratio of 4.23 and a beta of 1.10. The company has a 50 day simple moving average of $54.37 and a two-hundred day simple moving average of $47.82.

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

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were paid 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 was Tuesday, June 3rd. Bentley Systems’s dividend payout ratio (DPR) is currently 35.44%.

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.