Envestnet Asset Management Inc. Purchases 23,771 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Envestnet Asset Management Inc. grew its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSYFree Report) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,113,400 shares of the company’s stock after purchasing an additional 23,771 shares during the quarter. Envestnet Asset Management Inc. owned about 0.39% of Bentley Systems worth $58,097,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Private Trust Co. NA boosted its holdings in Bentley Systems by 87.3% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $28,000 after buying an additional 254 shares during the period. MJP Associates Inc. ADV lifted its position in shares of Bentley Systems by 3.9% during the fourth quarter. MJP Associates Inc. ADV now owns 7,346 shares of the company’s stock worth $383,000 after acquiring an additional 277 shares in the last quarter. Portside Wealth Group LLC lifted its position in shares of Bentley Systems by 2.8% during the fourth quarter. Portside Wealth Group LLC now owns 11,412 shares of the company’s stock worth $595,000 after acquiring an additional 308 shares in the last quarter. Dfpg Investments LLC grew its position in shares of Bentley Systems by 2.0% in the fourth quarter. Dfpg Investments LLC now owns 17,821 shares of the company’s stock valued at $930,000 after purchasing an additional 341 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Bentley Systems by 97.4% in the fourth quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock valued at $39,000 after purchasing an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $48.95 on Tuesday. The company’s fifty day moving average price is $52.29 and its 200-day moving average price is $51.30. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $14.12 billion, a price-to-earnings ratio of 45.75, a PEG ratio of 4.49 and a beta of 1.04. Bentley Systems, Incorporated has a one year low of $44.76 and a one year high of $57.19.

Bentley Systems (NASDAQ:BSYGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. The company had revenue of $337.76 million during the quarter, compared to analyst estimates of $335.00 million. On average, equities research analysts anticipate that Bentley Systems, Incorporated will post 0.85 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. Bentley Systems’s dividend payout ratio (DPR) is presently 22.43%.

Wall Street Analysts Forecast Growth

BSY has been the subject of several analyst reports. William Blair assumed coverage on Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating for the company. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, February 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $60.00 target price on shares of Bentley Systems in a report on Tuesday, April 30th. Piper Sandler reissued an “overweight” rating and issued a $63.00 price target (up from $60.00) on shares of Bentley Systems in a report on Wednesday, May 8th. Finally, Mizuho boosted their price target on shares of Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.29.

Check Out Our Latest Stock Report on BSY

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 118,949 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total value of $6,543,384.49. Following the completion of the sale, the director now owns 17,031,803 shares of the company’s stock, valued at $936,919,483.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Bentley Systems news, Director Keith A. Bentley sold 118,949 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total value of $6,543,384.49. Following the completion of the sale, the director now directly owns 17,031,803 shares of the company’s stock, valued at $936,919,483.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith A. Bentley sold 59,420 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $55.01, for a total transaction of $3,268,694.20. Following the sale, the director now owns 16,972,383 shares of the company’s stock, valued at $933,650,788.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,390 shares of company stock valued at $10,748,234. Corporate insiders own 21.12% of the company’s stock.

Bentley Systems Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bentley Systems (NASDAQ:BSY)

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