Diversify Wealth Management LLC Raises Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Diversify Wealth Management LLC raised its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 13.5% in the 4th quarter, HoldingsChannel reports. The firm owned 22,920 shares of the company’s stock after purchasing an additional 2,728 shares during the period. Diversify Wealth Management LLC’s holdings in Bentley Systems were worth $1,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new stake in shares of Bentley Systems during the 3rd quarter worth $30,000. Central Pacific Bank Trust Division lifted its stake in Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Bentley Systems by 500.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $61,000 after purchasing an additional 1,000 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Bentley Systems by 49.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,342 shares of the company’s stock valued at $66,000 after purchasing an additional 442 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Bentley Systems by 71.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,105 shares of the company’s stock valued at $107,000 after buying an additional 880 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $48.95, for a total value of $2,447,500.00. Following the completion of the transaction, the director now owns 12,048,235 shares in the company, valued at $589,761,103.25. This trade represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the sale, the director now directly owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by company insiders.

Bentley Systems Trading Down 1.2 %

NASDAQ BSY opened at $45.44 on Tuesday. The stock has a market cap of $13.21 billion, a P/E ratio of 40.94, a price-to-earnings-growth ratio of 3.43 and a beta of 1.04. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The stock has a 50 day simple moving average of $47.77 and a two-hundred day simple moving average of $48.77. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

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

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems’s payout ratio is currently 21.62%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Piper Sandler reduced their target price on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and a consensus price target of $57.29.

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.