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

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

Several other hedge funds and other institutional investors also recently modified their holdings of BSY. Swedbank AB grew its position in shares of Bentley Systems by 514.5% in the 2nd quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock worth $204,069,000 after buying an additional 3,461,500 shares during the period. Impax Asset Management Group plc bought a new stake in Bentley Systems during the third quarter worth about $88,771,000. Fiera Capital Corp bought a new stake in Bentley Systems during the third quarter worth about $42,773,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Bentley Systems by 3.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock worth $778,832,000 after purchasing an additional 586,458 shares during the period. Finally, Creative Planning increased its stake in shares of Bentley Systems by 67.9% during the second quarter. Creative Planning now owns 1,091,058 shares of the company’s stock valued at $53,855,000 after purchasing an additional 441,316 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Buying and Selling at Bentley Systems

In other news, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the sale, the director now owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. This represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Barry J. Bentley sold 34,987 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was 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 in the company, valued at approximately $590,754,805.76. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 326,032 shares of company stock worth $16,168,176. Insiders own 21.12% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on BSY shares. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th. Piper Sandler raised their price target on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 8th. The Goldman Sachs Group dropped their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Bentley Systems Trading Down 0.1 %

Bentley Systems stock opened at $49.18 on Thursday. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. The business’s fifty day moving average is $49.27 and its 200 day 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. The stock has a market capitalization of $14.30 billion, a PE ratio of 44.31, a price-to-earnings-growth ratio of 4.24 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. During the same quarter last year, the firm posted $0.18 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

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

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.