Bentley Systems, Incorporated (NASDAQ:BSY) Shares Bought by Truist Financial Corp

Truist Financial Corp lifted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 218,828 shares of the company’s stock after purchasing an additional 5,427 shares during the period. Truist Financial Corp owned about 0.08% of Bentley Systems worth $11,418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BSY. M&T Bank Corp boosted its stake in Bentley Systems by 0.4% during the 3rd quarter. M&T Bank Corp now owns 57,456 shares of the company’s stock worth $2,882,000 after purchasing an additional 218 shares during the period. Wealthfront Advisers LLC grew its holdings in shares of Bentley Systems by 1.9% during the third quarter. Wealthfront Advisers LLC now owns 12,108 shares of the company’s stock worth $607,000 after buying an additional 228 shares during the last quarter. Private Trust Co. NA increased its position in Bentley Systems by 87.3% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after acquiring an additional 254 shares during the period. MJP Associates Inc. ADV raised its stake in Bentley Systems by 3.9% during the 4th quarter. MJP Associates Inc. ADV now owns 7,346 shares of the company’s stock valued at $383,000 after acquiring an additional 277 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its position in Bentley Systems by 2.8% during the 4th quarter. Portside Wealth Group LLC now owns 11,412 shares of the company’s stock worth $595,000 after acquiring an additional 308 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the sale, the director now directly owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Keith A. Bentley sold 17,021 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the sale, the director now owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Keith A. Bentley sold 88,925 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total value of $4,400,009.00. Following the sale, the director now owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. The disclosure for this sale can be found here. Corporate insiders own 21.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BSY. Piper Sandler reissued an “overweight” rating and issued a $60.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, February 28th. William Blair initiated coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating for the company. Robert W. Baird boosted their price target 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. Finally, Rosenblatt Securities reissued a “buy” rating and set a $60.00 price target on shares of Bentley Systems in a report on Tuesday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.44.

Bentley Systems Stock Down 2.0 %

BSY stock opened at $51.47 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72. The company’s 50-day moving average price is $50.81 and its 200 day moving average price is $50.87. Bentley Systems, Incorporated has a 52 week low of $41.44 and a 52 week high of $55.37. The company has a market cap of $14.71 billion, a P/E ratio of 51.99, a P/E/G ratio of 5.39 and a beta of 1.10.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The business had revenue of $310.64 million for the quarter, compared to analyst estimates of $313.67 million. During the same quarter in the previous year, the company earned $0.13 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, research analysts expect that Bentley Systems, Incorporated will post 0.82 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were given a $0.06 dividend. The ex-dividend date was Tuesday, March 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. Bentley Systems’s dividend payout ratio (DPR) is currently 24.24%.

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.