Bentley Systems, Incorporated $BSY Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 29.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,255 shares of the company’s stock after selling 18,611 shares during the period. Sanctuary Advisors LLC’s holdings in Bentley Systems were worth $1,589,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Bentley Systems during the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. grew its position in Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares during the last quarter. Physician Wealth Advisors Inc. increased its stake in Bentley Systems by 80.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after buying an additional 352 shares during the period. Royal London Asset Management Ltd. purchased a new position in Bentley Systems during the 4th quarter worth $32,000. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. purchased a new position in Bentley Systems during the 4th quarter worth $34,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BSY shares. Piper Sandler upgraded shares of Bentley Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $42.00 to $45.00 in a research note on Friday, May 8th. Bank of America assumed coverage on shares of Bentley Systems in a research report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective for the company. Barclays lowered their target price on Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, May 29th. BNP Paribas Exane started coverage on Bentley Systems in a report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Zacks Research cut Bentley Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.54.

Bentley Systems Trading Up 1.3%

Shares of BSY stock opened at $30.12 on Friday. The firm has a fifty day moving average of $31.62 and a 200-day moving average of $34.24. The stock has a market cap of $8.80 billion, a price-to-earnings ratio of 34.23, a P/E/G ratio of 1.91 and a beta of 1.00. Bentley Systems, Incorporated has a 52-week low of $28.08 and a 52-week high of $59.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Bentley Systems had a net margin of 18.12% and a return on equity of 28.65%. The business had revenue of $424.18 million for the quarter, compared to analysts’ expectations of $419.80 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities research analysts forecast that Bentley Systems, Incorporated will post 1.2 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 2nd. Bentley Systems’s dividend payout ratio (DPR) is 31.82%.

About Bentley Systems

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.