Diversify Wealth Management LLC Has $993,000 Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Diversify Wealth Management LLC boosted its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 2.2% during the third quarter, Holdings Channel reports. The institutional investor owned 20,192 shares of the company’s stock after buying an additional 428 shares during the period. Diversify Wealth Management LLC’s holdings in Bentley Systems were worth $993,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in Bentley Systems by 4,618.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after buying an additional 508 shares during the last quarter. GAMMA Investing LLC grew its stake in Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after buying an additional 273 shares during the last quarter. Blue Trust Inc. grew its stake in Bentley Systems by 68,500.0% in the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after buying an additional 685 shares during the last quarter. Central Pacific Bank Trust Division grew its position in shares of Bentley Systems by 57.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its position in shares of Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after purchasing an additional 358 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Wall Street Analyst Weigh In

BSY has been the topic of a number of analyst reports. Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research report on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased their target price on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Piper Sandler restated an “overweight” rating and set a $63.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.57.

Insider Activity at Bentley Systems

In related news, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the completion of the transaction, the director now owns 12,298,230 shares of the company’s stock, valued at $617,371,146. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Barry J. Bentley sold 34,987 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the completion of the transaction, the director now owns 12,213,248 shares of the company’s stock, valued at approximately $590,754,805.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the transaction, the director now directly owns 12,298,230 shares of the company’s stock, valued at $617,371,146. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock valued at $16,168,176 in the last quarter. Insiders own 21.12% of the company’s stock.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $49.61 on Thursday. The company has a 50 day moving average of $49.71 and a 200-day moving average of $50.47. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36. The company has a market cap of $14.42 billion, a PE ratio of 43.52, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. The company had revenue of $330.34 million during the quarter, compared to the consensus estimate of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 EPS. As a group, equities research analysts forecast that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s payout ratio is 21.05%.

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.