Vontobel Holding Ltd. Decreases Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Vontobel Holding Ltd. trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,421 shares of the company’s stock after selling 3,317 shares during the quarter. Vontobel Holding Ltd.’s holdings in Bentley Systems were worth $1,274,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BSY. Private Trust Co. NA grew its holdings in Bentley Systems by 87.3% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after purchasing an additional 254 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Bentley Systems by 261.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 658 shares of the company’s stock valued at $28,000 after purchasing an additional 476 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in Bentley Systems by 43.6% during the 1st quarter. Belpointe Asset Management LLC now owns 757 shares of the company’s stock valued at $33,000 after purchasing an additional 230 shares during the last quarter. State of Wyoming grew its holdings in Bentley Systems by 6,393.8% during the 4th quarter. State of Wyoming now owns 1,039 shares of the company’s stock valued at $38,000 after purchasing an additional 1,023 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in Bentley Systems by 97.4% during the 4th quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock valued at $39,000 after purchasing an additional 371 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler reiterated an “overweight” rating and set a $60.00 price target on shares of Bentley Systems in a report on Wednesday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a report on Wednesday, February 28th. William Blair started coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating on the stock. Rosenblatt Securities upgraded shares of Bentley Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $54.00 to $60.00 in a research note on Monday, February 26th. Finally, Robert W. Baird upped their target price on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.44.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 88,925 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the completion of the sale, the director now owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.74% of the stock is currently owned by corporate insiders.

Bentley Systems Price Performance

NASDAQ BSY opened at $52.46 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55. The firm’s 50 day moving average price is $50.55 and its 200-day moving average price is $50.81. Bentley Systems, Incorporated has a 52-week low of $40.89 and a 52-week high of $55.37. The company has a market cap of $14.99 billion, a PE ratio of 52.99, a P/E/G ratio of 5.31 and a beta of 1.10.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The company had revenue of $310.64 million during the quarter, compared to analysts’ expectations of $313.67 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. Bentley Systems’s revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Bentley Systems, Incorporated will post 0.82 EPS for the current fiscal year.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were given a dividend of $0.06 per share. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 19th. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. Bentley Systems’s dividend payout ratio is presently 24.24%.

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.