Janney Montgomery Scott LLC Sells 4,288 Shares of Bentley Systems, Incorporated $BSY

Janney Montgomery Scott LLC decreased its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,539 shares of the company’s stock after selling 4,288 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Bentley Systems worth $10,014,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Axxcess Wealth Management LLC grew its stake in shares of Bentley Systems by 3.7% in the 1st quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company’s stock valued at $333,000 after buying an additional 301 shares in the last quarter. Prentiss Smith & Co. Inc. grew its stake in shares of Bentley Systems by 0.5% in the 1st quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company’s stock valued at $2,524,000 after buying an additional 315 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Bentley Systems by 3.5% in the 1st quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company’s stock valued at $371,000 after buying an additional 315 shares in the last quarter. Thrive Wealth Management LLC lifted its holdings in Bentley Systems by 4.1% in the 2nd quarter. Thrive Wealth Management LLC now owns 8,101 shares of the company’s stock worth $437,000 after purchasing an additional 316 shares during the last quarter. Finally, Wealth Alliance LLC lifted its holdings in Bentley Systems by 5.0% in the 1st quarter. Wealth Alliance LLC now owns 7,951 shares of the company’s stock worth $313,000 after purchasing an additional 380 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $54.99 on Friday. The business has a fifty day simple moving average of $54.05 and a 200 day simple moving average of $50.03. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $16.06 billion, a price-to-earnings ratio of 69.61, a PEG ratio of 4.44 and a beta of 1.07. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $59.25.

Bentley Systems (NASDAQ:BSY) last issued its 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 business had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.Bentley Systems’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. Sell-side analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, September 23rd. Bentley Systems’s dividend payout ratio is 35.44%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BSY shares. Oppenheimer boosted their target price on Bentley Systems from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Wall Street Zen lowered Bentley Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Bentley Systems in a report on Saturday, September 27th. Robert W. Baird set a $64.00 price target on Bentley Systems and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Finally, Piper Sandler upped their price target on Bentley Systems from $57.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $56.60.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 150,000 shares of the company’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $55.54, for a total value of $8,331,000.00. Following the sale, the director directly owned 3,859,327 shares in the company, valued at $214,347,021.58. This represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the company’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $56.96, for a total value of $1,102,062.08. Following the completion of the sale, the insider owned 647,609 shares in the company, valued at $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 170,713 shares of company stock worth $9,511,690 over the last quarter. Company insiders own 20.56% of the company’s stock.

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.