Raymond James Trust N.A. Acquires 1,177 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Raymond James Trust N.A. lifted its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 25.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,757 shares of the company’s stock after acquiring an additional 1,177 shares during the period. Raymond James Trust N.A.’s holdings in Bentley Systems were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in Bentley Systems in the 3rd quarter worth about $59,400,000. Montanaro Asset Management Ltd boosted its position in shares of Bentley Systems by 8.8% in the third quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock valued at $16,839,000 after acquiring an additional 26,741 shares during the period. Cetera Advisors LLC purchased a new position in Bentley Systems during the first quarter valued at approximately $608,000. Clearline Capital LP bought a new stake in Bentley Systems during the 2nd quarter worth approximately $6,999,000. Finally, Impax Asset Management Group plc purchased a new stake in Bentley Systems in the 3rd quarter worth approximately $88,771,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bentley Systems

In other news, Director Barry J. Bentley sold 34,987 shares of the company’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 directly owns 12,213,248 shares of the company’s stock, valued at approximately $590,754,805.76. This represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of the sale, the director now directly owns 16,598,656 shares in the company, valued at $820,471,566.08. The trade was a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock worth $16,168,176 in the last ninety days. 21.12% of the stock is owned by company insiders.

Bentley Systems Stock Down 0.1 %

Shares of NASDAQ BSY opened at $49.18 on Thursday. The stock has a market capitalization of $14.30 billion, a P/E ratio of 44.31, a PEG ratio of 4.24 and a beta of 1.04. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. The firm’s 50 day simple moving average is $49.27 and its two-hundred day simple moving average is $49.87. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. As a group, analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

Wall Street Analysts Forecast Growth

BSY has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems 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 Friday, November 8th. The Goldman Sachs Group decreased their price objective 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 lifted their target price on shares of Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Bentley Systems 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.