Integrated Wealth Concepts LLC Lowers Position in Bentley Systems, Incorporated $BSY

Integrated Wealth Concepts LLC lessened its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 4.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,346 shares of the company’s stock after selling 817 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Bentley Systems were worth $722,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Bentley Systems by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock valued at $708,114,000 after purchasing an additional 898,115 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Bentley Systems by 1.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company’s stock valued at $636,027,000 after buying an additional 160,496 shares during the period. Bessemer Group Inc. lifted its position in 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 buying an additional 1,883,185 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in Bentley Systems by 44.7% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 804,061 shares of the company’s stock valued at $31,608,000 after buying an additional 248,359 shares during the period. Finally, Thematics Asset Management lifted its position in Bentley Systems by 12.4% during the first quarter. Thematics Asset Management now owns 531,483 shares of the company’s stock valued at $20,909,000 after buying an additional 58,503 shares during the period. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Down 1.0%

Shares of Bentley Systems stock opened at $52.94 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $15.46 billion, a PE ratio of 67.01, a price-to-earnings-growth ratio of 4.31 and a beta of 1.09. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $59.25. The company has a 50-day simple moving average of $55.38 and a two-hundred day simple moving average of $48.90.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share 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 company had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. During the same period in the previous year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. Bentley Systems’s dividend payout ratio is currently 35.44%.

Insider Transactions at Bentley Systems

In other news, Director Raymond B. Bentley sold 355,103 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $49.96, for a total value of $17,740,945.88. Following the completion of the transaction, the director owned 15,992,321 shares in the company, valued at $798,976,357.16. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David R. Shaman sold 19,348 shares of the business’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $56.96, for a total value 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 trade represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,189,869 shares of company stock worth $60,880,388 over the last quarter. 20.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BSY. Wall Street Zen cut shares of Bentley Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Rosenblatt Securities lowered shares of Bentley Systems from a “buy” rating to a “neutral” rating and lifted their target price for the company from $53.00 to $58.00 in a report on Thursday, August 7th. Oppenheimer lifted their target price on shares of Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. UBS Group lifted their target price on shares of Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Finally, The Goldman Sachs Group lifted their price objective on Bentley Systems from $42.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.60.

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.