Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 50.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,396 shares of the company’s stock after selling 8,406 shares during the period. Axxcess Wealth Management LLC’s holdings in Bentley Systems were worth $438,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Bentley Systems in the third quarter worth about $354,000. Commonwealth Equity Services LLC boosted its holdings in Bentley Systems by 36.1% during the third quarter. Commonwealth Equity Services LLC now owns 41,487 shares of the company’s stock worth $2,081,000 after buying an additional 11,012 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Bentley Systems by 60.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 28,121 shares of the company’s stock worth $1,411,000 after buying an additional 10,545 shares during the last quarter. Strs Ohio bought a new position in shares of Bentley Systems in the third quarter valued at $1,124,000. Finally, IFM Investors Pty Ltd lifted its position in shares of Bentley Systems by 1.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 45,222 shares of the company’s stock valued at $2,268,000 after acquiring an additional 701 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the stock in a transaction that occurred 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 owns 17,164,179 shares in the company, valued at $849,283,576.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Keith A. Bentley sold 17,021 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the sale, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The disclosure for this sale can be found here. Insiders own 21.12% of the company’s stock.

Bentley Systems Trading Down 1.0 %

Shares of NASDAQ:BSY opened at $54.36 on Thursday. Bentley Systems, Incorporated has a 12-month low of $42.11 and a 12-month high of $55.37. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $15.54 billion, a P/E ratio of 54.91, a price-to-earnings-growth ratio of 5.36 and a beta of 1.08. The firm has a fifty day moving average of $50.94 and a two-hundred day moving average of $50.89.

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

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.44%. Bentley Systems’s payout ratio is 24.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports 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 research report on Tuesday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $60.00 price objective on shares of Bentley Systems in a research note on Tuesday, April 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, February 28th. Mizuho raised their price objective on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, William Blair started coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.33.

Bentley Systems Company 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.