Cetera Investment Advisers Has $1.55 Million Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Cetera Investment Advisers lifted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 1.1% during the 2nd quarter, Holdings Channel reports. The firm owned 31,449 shares of the company’s stock after purchasing an additional 352 shares during the period. Cetera Investment Advisers’ holdings in Bentley Systems were worth $1,552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Swedbank AB lifted its stake in Bentley Systems by 514.5% during the second quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock worth $204,069,000 after purchasing an additional 3,461,500 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Bentley Systems by 3.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock valued at $778,832,000 after purchasing an additional 586,458 shares in the last quarter. Creative Planning boosted its position in Bentley Systems by 67.9% during the 2nd quarter. Creative Planning now owns 1,091,058 shares of the company’s stock worth $53,855,000 after buying an additional 441,316 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Bentley Systems during the second quarter worth $20,402,000. Finally, Vanguard Group Inc. raised its position in Bentley Systems by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company’s stock worth $1,154,093,000 after purchasing an additional 355,092 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Insider Transactions at Bentley Systems

In other 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 transaction, the director now directly owns 12,213,248 shares of the company’s stock, valued at $590,754,805.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Barry J. Bentley sold 34,987 shares of Bentley Systems stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $48.37, for a total value 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 approximately $590,754,805.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 176,032 shares of company stock worth $8,702,676 in the last 90 days. Insiders own 21.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bentley Systems Stock Down 1.9 %

Shares of NASDAQ:BSY opened at $49.99 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19. The business’s 50 day simple moving average is $49.68 and its two-hundred day simple moving average is $50.50. The firm has a market cap of $14.42 billion, a P/E ratio of 46.72, a PEG ratio of 4.09 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. During the same period last year, the business earned $0.20 EPS. Bentley Systems’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, research analysts forecast that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 annualized dividend and a dividend yield of 0.48%. Bentley Systems’s dividend payout ratio is currently 22.43%.

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.