Axxcess Wealth Management LLC Cuts Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Axxcess Wealth Management LLC cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,396 shares of the company’s stock after selling 8,406 shares during the period. Axxcess Wealth Management LLC’s holdings in Bentley Systems were worth $438,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Heritage Wealth Management LLC purchased a new stake in shares of Bentley Systems in the 4th quarter valued at approximately $642,000. Van ECK Associates Corp acquired a new position in shares of Bentley Systems during the 4th quarter worth about $72,000. Truist Financial Corp increased its holdings in shares of Bentley Systems by 2.5% in the 4th quarter. Truist Financial Corp now owns 218,828 shares of the company’s stock valued at $11,418,000 after acquiring an additional 5,427 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Bentley Systems by 3.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 121,769 shares of the company’s stock valued at $6,354,000 after purchasing an additional 3,965 shares in the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in Bentley Systems in the fourth quarter valued at approximately $595,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Stock Performance

NASDAQ BSY opened at $54.36 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72. The business’s 50 day moving average is $50.94 and its two-hundred day moving average is $50.89. The stock has a market capitalization of $15.54 billion, a price-to-earnings ratio of 54.91, a PEG ratio of 5.36 and a beta of 1.08. Bentley Systems, Incorporated has a 12-month low of $42.11 and a 12-month high of $55.37.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The company had revenue of $310.64 million during the quarter, compared to the consensus estimate of $313.67 million. During the same quarter last year, the company earned $0.13 earnings per share. Bentley Systems’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts expect that Bentley Systems, Incorporated will post 0.82 EPS for the current year.

Bentley Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.44%. Bentley Systems’s dividend payout ratio (DPR) is 24.24%.

Insider Activity

In related news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the sale, the director now directly owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Keith A. Bentley sold 88,925 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total value of $4,400,009.00. Following the transaction, the director now directly owns 17,164,179 shares of the company’s stock, valued at approximately $849,283,576.92. The disclosure for this sale can be found here. Insiders own 21.12% of the company’s stock.

Analyst Ratings Changes

BSY has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Robert W. Baird raised their price objective on Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Mizuho lifted their target price on Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $63.00 target price (up from $60.00) on shares of Bentley Systems in a research report on Wednesday. Finally, William Blair assumed coverage on Bentley Systems in a research report on Thursday, March 28th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.33.

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.