Cetera Investment Advisers Sells 1,538 Shares of Bentley Systems, Incorporated $BSY

Cetera Investment Advisers cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,816 shares of the company’s stock after selling 1,538 shares during the quarter. Cetera Investment Advisers’ holdings in Bentley Systems were worth $1,339,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP increased its position in Bentley Systems by 37.6% in the 2nd quarter. Allworth Financial LP now owns 702 shares of the company’s stock valued at $38,000 after acquiring an additional 192 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Bentley Systems by 19.3% during the second quarter. Blue Trust Inc. now owns 1,305 shares of the company’s stock valued at $70,000 after purchasing an additional 211 shares during the last quarter. Thrive Wealth Management LLC increased its holdings in shares of Bentley Systems by 4.1% in the second quarter. Thrive Wealth Management LLC now owns 8,101 shares of the company’s stock valued at $437,000 after purchasing an additional 316 shares in the last quarter. Atria Investments Inc raised its position in Bentley Systems by 0.4% in the 2nd quarter. Atria Investments Inc now owns 81,052 shares of the company’s stock worth $4,374,000 after purchasing an additional 323 shares during the last quarter. Finally, Wealth Alliance LLC lifted its holdings in Bentley Systems by 4.4% during the 2nd quarter. Wealth Alliance LLC now owns 8,304 shares of the company’s stock worth $448,000 after buying an additional 353 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Shares of BSY stock opened at $41.85 on Tuesday. The stock has a market cap of $12.22 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 3.28 and a beta of 1.23. The stock has a 50-day moving average of $48.41 and a 200-day moving average of $51.46. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. 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 quarterly earnings data on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The firm had revenue of $375.55 million during the quarter, compared to analysts’ expectations of $369.57 million. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. As a group, sell-side analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, December 4th will be given a $0.07 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Bentley Systems’s dividend payout ratio is currently 33.33%.

Analyst Ratings Changes

Several research firms have recently commented on BSY. Rosenblatt Securities reissued a “buy” rating and issued a $58.00 target price on shares of Bentley Systems in a research note on Thursday, November 6th. The Goldman Sachs Group lifted their price objective on Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a research report on Thursday, August 7th. Barclays started coverage on shares of Bentley Systems in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $57.00 target price on the stock. UBS Group lifted their price target on shares of Bentley Systems from $53.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Seven investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.73.

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.