Axxcess Wealth Management LLC Grows Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Axxcess Wealth Management LLC raised its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSYGet Rating) by 72.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,714 shares of the company’s stock after buying an additional 5,359 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Bentley Systems were worth $423,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BSY. Brown Advisory Inc. grew its holdings in Bentley Systems by 2,541.4% during the 2nd quarter. Brown Advisory Inc. now owns 1,164,340 shares of the company’s stock valued at $38,773,000 after buying an additional 1,120,260 shares during the last quarter. Robeco Schweiz AG acquired a new stake in Bentley Systems during the 2nd quarter valued at $23,029,000. Pictet Asset Management SA grew its holdings in Bentley Systems by 395.3% during the 2nd quarter. Pictet Asset Management SA now owns 401,516 shares of the company’s stock valued at $13,371,000 after buying an additional 320,453 shares during the last quarter. Durable Capital Partners LP acquired a new stake in Bentley Systems during the 1st quarter valued at $10,128,000. Finally, LA Financiere DE L Echiquier acquired a new stake in Bentley Systems during the 1st quarter valued at $9,455,000. Institutional investors and hedge funds own 35.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BSY. The Goldman Sachs Group upgraded Bentley Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $38.00 to $44.00 in a report on Wednesday, November 9th. Griffin Securities restated a “hold” rating on shares of Bentley Systems in a report on Wednesday, August 10th. Royal Bank of Canada decreased their price objective on Bentley Systems from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Oppenheimer restated an “outperform” rating and set a $48.00 price objective on shares of Bentley Systems in a report on Tuesday. Finally, TheStreet upgraded Bentley Systems from a “d+” rating to a “c-” rating in a report on Friday, August 12th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.78.

Insider Buying and Selling

In related news, CEO Gregory S. Bentley sold 1,668 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $36.00, for a total value of $60,048.00. Following the transaction, the chief executive officer now directly owns 8,634,484 shares of the company’s stock, valued at approximately $310,841,424. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Bentley Systems news, CEO Gregory S. Bentley sold 1,668 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $36.00, for a total value of $60,048.00. Following the transaction, the chief executive officer now directly owns 8,634,484 shares of the company’s stock, valued at $310,841,424. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry J. Bentley sold 39,286 shares of Bentley Systems stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $37.95, for a total value of $1,490,903.70. Following the sale, the director now directly owns 13,344,171 shares in the company, valued at $506,411,289.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 365,790 shares of company stock valued at $13,786,454. 22.53% of the stock is currently owned by company insiders.

Bentley Systems Trading Up 0.6 %

Shares of BSY opened at $38.31 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 3.42. The firm has a market capitalization of $10.60 billion, a P/E ratio of 64.93, a price-to-earnings-growth ratio of 6.65 and a beta of 1.20. The stock’s fifty day simple moving average is $34.24 and its 200 day simple moving average is $35.10. Bentley Systems, Incorporated has a twelve month low of $26.32 and a twelve month high of $52.49.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Wednesday, November 30th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Tuesday, November 29th. Bentley Systems’s dividend payout ratio (DPR) is currently 20.34%.

About Bentley Systems

(Get Rating)

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.

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Institutional Ownership by Quarter for Bentley Systems (NASDAQ:BSY)

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