Diversify Advisory Services LLC Sells 2,658 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Diversify Advisory Services LLC reduced its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 34.7% in the third quarter, Holdings Channel.com reports. The fund owned 4,999 shares of the company’s stock after selling 2,658 shares during the quarter. Diversify Advisory Services LLC’s holdings in Bentley Systems were worth $248,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Bentley Systems by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 449,954 shares of the company’s stock worth $23,497,000 after purchasing an additional 4,008 shares in the last quarter. Norden Group LLC bought a new position in shares of Bentley Systems in the 1st quarter worth $3,134,000. Janney Montgomery Scott LLC raised its position in shares of Bentley Systems by 3.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 204,967 shares of the company’s stock valued at $10,703,000 after buying an additional 6,508 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Bentley Systems by 7.9% during the 1st quarter. Nordea Investment Management AB now owns 15,569 shares of the company’s stock worth $814,000 after acquiring an additional 1,146 shares during the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new position in Bentley Systems in the first quarter worth $244,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the transaction, the director now directly owns 12,298,230 shares of the company’s stock, valued at approximately $617,371,146. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Barry J. Bentley sold 34,987 shares of the stock in a transaction that occurred 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 sale, the director now owns 12,213,248 shares of the company’s stock, valued at $590,754,805.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the transaction, the director now directly owns 12,298,230 shares in the company, valued at $617,371,146. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 326,032 shares of company stock worth $16,168,176. Insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

NASDAQ BSY opened at $48.41 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 42.47, a PEG ratio of 4.14 and a beta of 1.03. The stock has a 50-day moving average of $49.64 and a 200 day moving average of $50.47. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19.

Bentley Systems (NASDAQ:BSY) last posted 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 business had revenue of $330.34 million during the quarter, compared to analyst estimates of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The company’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. On average, sell-side analysts forecast that Bentley Systems, Incorporated will post 0.9 EPS for the current year.

Bentley Systems Announces Dividend

The business 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 was Tuesday, September 17th. This represents a $0.24 annualized dividend and a yield of 0.50%. Bentley Systems’s payout ratio is 21.05%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BSY shares. The Goldman Sachs Group reduced their price objective on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $63.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.57.

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.