Park Avenue Securities LLC Trims Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Park Avenue Securities LLC lowered its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 2.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,842 shares of the company’s stock after selling 250 shares during the period. Park Avenue Securities LLC’s holdings in Bentley Systems were worth $462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Advocates LLC purchased a new position in Bentley Systems during the first quarter valued at $560,000. Kapitalo Investimentos Ltda bought a new position in shares of Bentley Systems in the 4th quarter worth about $249,000. HighPoint Advisor Group LLC purchased a new position in Bentley Systems during the 4th quarter valued at about $429,000. Vanguard Group Inc. boosted its stake in Bentley Systems by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company’s stock worth $1,154,093,000 after acquiring an additional 355,092 shares in the last quarter. Finally, Bridgewater Associates LP grew its holdings in Bentley Systems by 10.5% in the fourth quarter. Bridgewater Associates LP now owns 325,786 shares of the company’s stock worth $17,000,000 after purchasing an additional 30,982 shares during the period. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the sale, the director now owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the transaction, the director now owns 17,150,752 shares in the company, valued at approximately $943,291,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Bentley sold 118,949 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total transaction of $6,543,384.49. Following the sale, the director now owns 17,031,803 shares of the company’s stock, valued at $936,919,483.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,390 shares of company stock worth $10,748,234. 21.12% of the stock is owned by insiders.

Bentley Systems Stock Down 0.6 %

Bentley Systems stock opened at $49.36 on Friday. Bentley Systems, Incorporated has a 12 month low of $44.76 and a 12 month high of $57.19. The stock has a fifty day simple moving average of $52.53 and a two-hundred day simple moving average of $51.21. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.53. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 46.13, a PEG ratio of 4.39 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. The company had revenue of $337.76 million during the quarter, compared to the consensus estimate of $335.00 million. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. Equities analysts predict that Bentley Systems, Incorporated will post 0.85 EPS for the current fiscal year.

Bentley Systems Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BSY. Piper Sandler reiterated an “overweight” rating and set a $63.00 target price (up from $60.00) on shares of Bentley Systems in a report on Wednesday, May 8th. Rosenblatt Securities reiterated a “buy” rating and set a $60.00 price objective on shares of Bentley Systems in a research note on Tuesday, April 30th. William Blair started coverage on Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating on the stock. Finally, Mizuho lifted their price target on Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.29.

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.