Raymond James & Associates Grows Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Raymond James & Associates lifted its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,119,244 shares of the company’s stock after purchasing an additional 30,143 shares during the period. Raymond James & Associates owned about 0.39% of Bentley Systems worth $58,402,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BSY. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Bentley Systems in the 1st quarter valued at about $241,000. US Bancorp DE increased its stake in Bentley Systems by 250.8% during the 1st quarter. US Bancorp DE now owns 4,806 shares of the company’s stock worth $213,000 after buying an additional 3,436 shares in the last quarter. HighTower Advisors LLC increased its stake in Bentley Systems by 96.7% during the 1st quarter. HighTower Advisors LLC now owns 10,401 shares of the company’s stock worth $459,000 after buying an additional 5,114 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Bentley Systems by 31.2% during the 1st quarter. Citigroup Inc. now owns 71,746 shares of the company’s stock worth $3,170,000 after purchasing an additional 17,080 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Bentley Systems by 315.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,226 shares of the company’s stock worth $55,000 after purchasing an additional 931 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the transaction, the director now directly owns 17,164,179 shares in the company, valued at $849,283,576.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.53% of the stock is owned by insiders.

Bentley Systems Trading Up 1.0 %

BSY opened at $51.58 on Thursday. Bentley Systems, Incorporated has a one year low of $40.89 and a one year high of $55.37. The stock has a market capitalization of $14.74 billion, a PE ratio of 52.10, a P/E/G ratio of 5.12 and a beta of 1.10. The business’s 50 day moving average price is $50.84 and its 200 day moving average price is $50.69. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The company had revenue of $310.64 million for the quarter, compared to analysts’ expectations of $313.67 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts expect that Bentley Systems, Incorporated will post 0.83 EPS for the current year.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, March 19th. Bentley Systems’s dividend payout ratio is 24.24%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Piper Sandler restated an “overweight” rating and set a $60.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Finally, Rosenblatt Securities upgraded Bentley Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $60.00 in a report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.44.

Bentley Systems 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.