Bentley Systems, Incorporated (NASDAQ:BSY) Stock Position Reduced by Investment Management Corp of Ontario

Investment Management Corp of Ontario cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 15.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,465 shares of the company’s stock after selling 800 shares during the period. Investment Management Corp of Ontario’s holdings in Bentley Systems were worth $209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its position in Bentley Systems by 61.1% during the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after purchasing an additional 378 shares in the last quarter. Tobam bought a new position in shares of Bentley Systems during the 4th quarter valued at $55,000. Atala Financial Inc bought a new position in shares of Bentley Systems during the 4th quarter valued at $55,000. Tortoise Investment Management LLC raised its holdings in shares of Bentley Systems by 76.9% during the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock valued at $78,000 after purchasing an additional 728 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Bentley Systems by 42.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company’s stock valued at $78,000 after purchasing an additional 495 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bentley Systems

In other news, CRO Brock Ballard sold 12,363 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the transaction, the executive now owns 68,064 shares in the company, valued at approximately $3,068,325.12. The trade was a 15.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 20.56% of the company’s stock.

Bentley Systems Stock Performance

Shares of BSY opened at $48.14 on Wednesday. The company has a market capitalization of $14.59 billion, a PE ratio of 43.37, a price-to-earnings-growth ratio of 3.52 and a beta of 1.05. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $57.19. 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 company’s fifty day moving average price is $42.39 and its 200 day moving average price is $45.55.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm had revenue of $370.54 million for the quarter, compared to the consensus estimate of $366.76 million. During the same quarter last year, the firm posted $0.31 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were issued a dividend of $0.07 per share. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.58%. Bentley Systems’s payout ratio is presently 35.44%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of Bentley Systems from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Royal Bank of Canada raised their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and cut their price target for the company from $51.00 to $42.00 in a report on Friday, February 28th. Mizuho cut their price target on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group raised their price target on shares of Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

About Bentley Systems

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.