Vestmark Advisory Solutions Inc. Lowers Stock Holdings in Bentley Systems, Incorporated $BSY

Vestmark Advisory Solutions Inc. reduced its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 47.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 136,337 shares of the company’s stock after selling 122,303 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Bentley Systems were worth $7,358,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Geneos Wealth Management Inc. lifted its position in shares of Bentley Systems by 1,529.3% during 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 in the last quarter. Assetmark Inc. raised its position in Bentley Systems by 682.8% during the second quarter. Assetmark Inc. now owns 728 shares of the company’s stock worth $39,000 after acquiring an additional 635 shares during the period. Twin Tree Management LP lifted its holdings in Bentley Systems by 361.9% during the first quarter. Twin Tree Management LP now owns 739 shares of the company’s stock valued at $29,000 after purchasing an additional 579 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Bentley Systems by 1,707.1% during the first quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock valued at $30,000 after purchasing an additional 717 shares in the last quarter. Finally, Whittier Trust Co. grew its position in shares of Bentley Systems by 237.4% in the second quarter. Whittier Trust Co. now owns 830 shares of the company’s stock valued at $45,000 after purchasing an additional 584 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BSY has been the subject of several research analyst reports. Piper Sandler reduced their price target on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays started coverage on Bentley Systems in a report on Tuesday, October 7th. They set an “equal weight” rating and a $57.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, October 8th. Wall Street Zen downgraded Bentley Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Finally, Robert W. Baird lowered their target price on shares of Bentley Systems from $64.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.73.

Bentley Systems Stock Up 0.6%

Shares of BSY opened at $46.71 on Friday. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $59.25. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The stock has a fifty day simple moving average of $52.00 and a two-hundred day simple moving average of $51.68. The company has a market capitalization of $13.64 billion, a PE ratio of 55.61, a price-to-earnings-growth ratio of 3.75 and a beta of 1.12.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The firm had revenue of $375.55 million during the quarter, compared to analyst estimates of $369.57 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Bentley Systems’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, September 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Bentley Systems’s dividend payout ratio (DPR) is currently 33.33%.

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.