Donoghue Forlines LLC Decreases Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Donoghue Forlines LLC lessened its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,542 shares of the company’s stock after selling 1,351 shares during the period. Donoghue Forlines LLC’s holdings in Bentley Systems were worth $1,542,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Private Trust Co. NA raised its holdings in Bentley Systems by 87.3% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after acquiring an additional 254 shares during the period. Fifth Third Bancorp raised its stake in shares of Bentley Systems by 97.4% during the 4th quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock valued at $39,000 after purchasing an additional 371 shares during the period. Van ECK Associates Corp purchased a new stake in Bentley Systems during the 4th quarter worth about $72,000. Global Retirement Partners LLC boosted its stake in Bentley Systems by 439.4% in the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the company’s stock worth $73,000 after purchasing an additional 1,226 shares during the period. Finally, Principal Securities Inc. purchased a new position in Bentley Systems during the 4th quarter valued at about $73,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction that occurred 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 sale, the director now owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the transaction, the director now owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith A. Bentley sold 17,021 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the sale, the director now directly owns 17,150,752 shares in the company, valued at $943,291,360. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 224,895 shares of company stock worth $11,879,548. Company insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ BSY traded up $0.47 during trading hours on Friday, reaching $55.48. 886,596 shares of the stock traded hands, compared to its average volume of 2,215,413. The company’s 50-day simple moving average is $51.17 and its two-hundred day simple moving average is $50.98. The company has a market capitalization of $16.00 billion, a P/E ratio of 51.85, a price-to-earnings-growth ratio of 5.06 and a beta of 1.08. Bentley Systems, Incorporated has a 52-week low of $44.46 and a 52-week high of $55.72. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 1.53.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. The firm had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. During the same period last year, the firm posted $0.13 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts forecast that Bentley Systems, Incorporated will post 0.82 EPS for the current year.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were paid a dividend of $0.06 per share. 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 dividend yield of 0.43%. The ex-dividend date was Tuesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is 22.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BSY. Piper Sandler reissued an “overweight” rating and issued a $63.00 price target (up from $60.00) on shares of Bentley Systems in a report on Wednesday. Rosenblatt Securities reissued a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a report on Tuesday, April 30th. Robert W. Baird upped their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, February 28th. Finally, William Blair assumed coverage on Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

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.