Hsbc Holdings PLC Decreases Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Hsbc Holdings PLC reduced its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 12.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,179 shares of the company’s stock after selling 5,427 shares during the period. Hsbc Holdings PLC’s holdings in Bentley Systems were worth $1,885,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BSY. Advisor OS LLC lifted its holdings in shares of Bentley Systems by 0.7% in the 2nd quarter. Advisor OS LLC now owns 30,983 shares of the company’s stock valued at $1,529,000 after acquiring an additional 226 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 273 shares during the last quarter. WR Wealth Planners LLC boosted its holdings in shares of Bentley Systems by 4.5% in the 2nd quarter. WR Wealth Planners LLC now owns 6,435 shares of the company’s stock worth $318,000 after purchasing an additional 275 shares during the period. LRI Investments LLC increased its position in shares of Bentley Systems by 6.1% during the 2nd quarter. LRI Investments LLC now owns 5,534 shares of the company’s stock valued at $273,000 after purchasing an additional 319 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after buying an additional 358 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

Bentley Systems stock opened at $50.66 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 $14.72 billion, a PE ratio of 47.35, a P/E/G ratio of 4.19 and a beta of 1.03. The company has a 50 day moving average price of $49.23 and a 200-day moving average price of $50.56. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19.

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

Bentley Systems Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is presently 22.43%.

Insiders Place Their Bets

In other news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 12,298,230 shares of the company’s stock, valued at $617,371,146. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction dated 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 owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The disclosure for this sale can be found here. 21.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $63.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Monday, September 16th. Finally, The Goldman Sachs Group decreased their price target on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.