Raymond James Financial Inc. Sells 4,546 Shares of Bentley Systems, Incorporated $BSY

Raymond James Financial Inc. lowered its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,448,098 shares of the company’s stock after selling 4,546 shares during the quarter. Raymond James Financial Inc.’s holdings in Bentley Systems were worth $56,968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Bentley Systems by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock valued at $708,114,000 after purchasing an additional 898,115 shares in the last quarter. Bessemer Group Inc. increased its stake in Bentley Systems by 8,187,760.9% during the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company’s stock valued at $74,086,000 after purchasing an additional 1,883,185 shares in the last quarter. AXA S.A. increased its stake in Bentley Systems by 7.6% during the 4th quarter. AXA S.A. now owns 1,603,157 shares of the company’s stock valued at $74,867,000 after purchasing an additional 112,824 shares in the last quarter. Northern Trust Corp increased its stake in Bentley Systems by 18.9% during the 4th quarter. Northern Trust Corp now owns 1,439,065 shares of the company’s stock valued at $67,204,000 after purchasing an additional 228,502 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Bentley Systems by 11.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 871,594 shares of the company’s stock valued at $40,711,000 after purchasing an additional 90,860 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on BSY shares. Piper Sandler boosted their price target on shares of Bentley Systems from $57.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Royal Bank Of Canada boosted their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Robert W. Baird set a $64.00 price target on shares of Bentley Systems and gave the company an “outperform” rating in a research note on Wednesday, July 30th. UBS Group boosted their price target on shares of Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, KeyCorp upped their target price on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Bentley Systems has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Bentley Systems Stock Performance

NASDAQ BSY opened at $53.61 on Thursday. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $59.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market cap of $15.66 billion, a price-to-earnings ratio of 67.86, a PEG ratio of 4.31 and a beta of 1.10. The company has a fifty day moving average price of $54.77 and a 200-day moving average price of $48.02.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The firm had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 150,000 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the completion of the transaction, the director owned 3,859,327 shares in the company, valued at approximately $214,347,021.58. This represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David R. Shaman sold 19,348 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the transaction, the insider owned 647,609 shares of the company’s stock, valued at approximately $36,887,808.64. The trade was a 2.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,189,869 shares of company stock worth $60,880,388. 20.56% of the stock is 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.