Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Empower Advisory Group LLC

Empower Advisory Group LLC trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 24.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,412 shares of the company’s stock after selling 6,185 shares during the period. Empower Advisory Group LLC’s holdings in Bentley Systems were worth $986,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Russell Investments Group Ltd. raised its stake in Bentley Systems by 2.7% during the first quarter. Russell Investments Group Ltd. now owns 18,711 shares of the company’s stock worth $977,000 after acquiring an additional 494 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Bentley Systems by 30.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 119,776 shares of the company’s stock worth $6,255,000 after purchasing an additional 27,870 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Bentley Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after purchasing an additional 134,516 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in Bentley Systems by 114.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,000 shares of the company’s stock valued at $157,000 after purchasing an additional 1,600 shares during the period. Finally, Mirova increased its position in Bentley Systems by 88.4% in the first quarter. Mirova now owns 158,310 shares of the company’s stock worth $8,267,000 after buying an additional 74,265 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Insider Activity at Bentley Systems

In other news, Director Barry J. Bentley sold 34,987 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $590,754,805.76. This trade represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the transaction, the director now directly owns 16,598,656 shares in the company, valued at $820,471,566.08. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock valued at $16,168,176 over the last 90 days. 21.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. The Goldman Sachs Group reduced their target price on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Piper Sandler lifted their price target on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

Bentley Systems Stock Down 0.7 %

BSY stock opened at $48.09 on Friday. The firm’s 50-day moving average is $49.44 and its two-hundred day moving average is $50.26. The company has a market capitalization of $13.98 billion, a price-to-earnings ratio of 43.32, a price-to-earnings-growth ratio of 4.13 and a beta of 1.04. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $335.17 million for the quarter, compared to analysts’ expectations of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 earnings per share. On average, analysts forecast that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 annualized dividend and a yield of 0.50%. Bentley Systems’s dividend payout ratio is currently 21.62%.

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.