Comerica Bank Sells 1,634 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Comerica Bank reduced its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,179 shares of the company’s stock after selling 1,634 shares during the quarter. Comerica Bank’s holdings in Bentley Systems were worth $1,503,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BSY. Intech Investment Management LLC raised its holdings in shares of Bentley Systems by 3.6% in the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock valued at $340,000 after purchasing an additional 254 shares during the period. EverSource Wealth Advisors LLC raised its stake in Bentley Systems by 3.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock valued at $469,000 after buying an additional 317 shares during the period. Prudential PLC lifted its position in shares of Bentley Systems by 0.6% in the fourth quarter. Prudential PLC now owns 63,008 shares of the company’s stock valued at $2,942,000 after buying an additional 371 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after acquiring an additional 378 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in shares of Bentley Systems by 4.3% during the 4th quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock worth $426,000 after acquiring an additional 380 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Trading Down 1.1 %

Shares of BSY stock opened at $46.53 on Friday. The stock has a 50 day simple moving average of $42.20 and a 200 day simple moving average of $45.56. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $57.19. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The stock has a market cap of $14.10 billion, a P/E ratio of 41.92, a price-to-earnings-growth ratio of 3.52 and a beta of 1.05.

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

Bentley Systems Increases Dividend

The company also recently declared 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 represents a $0.28 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Wednesday, March 19th. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is 35.44%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Rosenblatt Securities cut their price target on Bentley Systems from $62.00 to $53.00 and set a “buy” rating for the company in a report on Monday, May 5th. Robert W. Baird reduced their target price on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Mizuho lowered 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. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Finally, UBS Group upped their target price on Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Insider Buying and Selling

In related news, CRO Brock Ballard sold 12,363 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the sale, the executive now directly owns 68,064 shares of the company’s stock, valued at $3,068,325.12. This trade represents a 15.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 20.56% of the stock is currently owned by company insiders.

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.