TD Private Client Wealth LLC Reduces Stock Holdings in Bentley Systems, Incorporated $BSY

TD Private Client Wealth LLC lowered its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 32.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,527 shares of the company’s stock after selling 15,229 shares during the quarter. TD Private Client Wealth LLC’s holdings in Bentley Systems were worth $1,203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. North Dakota State Investment Board bought a new position in Bentley Systems during the fourth quarter valued at $212,000. AlphaCore Capital LLC bought a new stake in shares of Bentley Systems in the 4th quarter worth about $237,000. Northwestern Mutual Investment Management Company LLC purchased a new position in shares of Bentley Systems during the 4th quarter worth about $1,272,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Bentley Systems by 8,101.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 447,555 shares of the company’s stock worth $17,081,000 after purchasing an additional 442,098 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Bentley Systems by 119.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 61,501 shares of the company’s stock valued at $2,347,000 after purchasing an additional 33,536 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Up 1.0%

NASDAQ:BSY opened at $33.34 on Thursday. Bentley Systems, Incorporated has a twelve month low of $30.52 and a twelve month high of $59.25. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 37.89, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01. The stock has a fifty day simple moving average of $34.61 and a 200-day simple moving average of $37.64. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.91.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Thursday, May 7th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The business had revenue of $424.18 million during the quarter, compared to the consensus estimate of $419.80 million. During the same period last year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts anticipate that Bentley Systems, Incorporated will post 1.23 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Bentley Systems’s payout ratio is 31.82%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays boosted their target price on Bentley Systems from $47.00 to $49.00 and gave the company an “equal weight” rating in a research report on Friday, March 6th. BMO Capital Markets reiterated an “outperform” rating on shares of Bentley Systems in a report on Monday, March 2nd. Weiss Ratings cut Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. Bank of America initiated coverage on Bentley Systems in a research report on Tuesday, May 12th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Piper Sandler upgraded Bentley Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $42.00 to $45.00 in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.69.

Bentley Systems Profile

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.