Truist Financial Corp Sells 19,397 Shares of Bentley Systems, Incorporated $BSY

Truist Financial Corp lowered its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 13.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 130,314 shares of the company’s stock after selling 19,397 shares during the quarter. Truist Financial Corp’s holdings in Bentley Systems were worth $4,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in shares of Bentley Systems by 179.3% during the 4th quarter. Fifth Third Bancorp now owns 1,919 shares of the company’s stock worth $73,000 after buying an additional 1,232 shares in the last quarter. Danske Bank A S lifted its position in shares of Bentley Systems by 74.5% during the 4th quarter. Danske Bank A S now owns 78,204 shares of the company’s stock worth $2,985,000 after buying an additional 33,400 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Bentley Systems during the 4th quarter worth approximately $858,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Bentley Systems by 239.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 465,152 shares of the company’s stock worth $17,753,000 after buying an additional 328,267 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of Bentley Systems by 106.8% during the 4th quarter. Comerica Bank now owns 61,147 shares of the company’s stock worth $2,334,000 after buying an additional 31,576 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Analyst Ratings Changes

BSY has been the topic of several recent analyst reports. Weiss Ratings cut shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. Oppenheimer dropped their target price on shares of Bentley Systems from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Piper Sandler raised shares of Bentley Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $42.00 to $45.00 in a research report on Friday. BMO Capital Markets reissued an “outperform” rating on shares of Bentley Systems in a research report on Monday, March 2nd. Finally, UBS Group decreased their price target on shares of Bentley Systems from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.33.

Bentley Systems Stock Performance

Shares of BSY stock opened at $32.76 on Monday. The company has a 50 day moving average of $35.58 and a 200-day moving average of $38.84. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.91. Bentley Systems, Incorporated has a 12-month low of $30.83 and a 12-month high of $59.25. The firm has a market cap of $9.58 billion, a P/E ratio of 37.23, a PEG ratio of 2.20 and a beta of 1.01.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The company had revenue of $424.18 million during the quarter, compared to analyst estimates of $419.80 million. During the same quarter last year, the business posted $0.35 EPS. Bentley Systems’s quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 1.23 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Tuesday, March 10th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, March 10th. Bentley Systems’s payout ratio is currently 31.82%.

Bentley Systems News Summary

Here are the key news stories impacting Bentley Systems this week:

• Positive Sentiment: Bentley Systems reported Q1 earnings of $0.38 per share, beating estimates of $0.36, while revenue of $424.2 million also topped expectations. Sales rose 14.5% year over year, suggesting continued healthy demand for the company’s software. Earnings transcript
• Positive Sentiment: Mizuho kept an outperform rating on Bentley Systems and still sees upside from current levels, which may help support sentiment despite the lower target. Benzinga report
• Neutral Sentiment: The company’s earnings call transcript and presentation are in focus as investors look for commentary on growth trends, margins, and full-year guidance following the report. Yahoo Finance transcript
• Negative Sentiment: Mizuho lowered its price target on Bentley Systems from $50 to $45, a sign that analysts are becoming slightly more cautious about the stock’s near-term valuation. Mizuho price-target update

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.