Bentley Systems, Incorporated $BSY Shares Purchased by Thrive Wealth Management LLC

Thrive Wealth Management LLC raised its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,101 shares of the company’s stock after buying an additional 316 shares during the quarter. Thrive Wealth Management LLC’s holdings in Bentley Systems were worth $437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BSY. Bessemer Group Inc. raised its stake in Bentley Systems by 8,187,760.9% during the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company’s stock valued at $74,086,000 after buying an additional 1,883,185 shares in the last quarter. Vanguard Group Inc. raised its stake in Bentley Systems by 5.3% during the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock valued at $708,114,000 after buying an additional 898,115 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Bentley Systems during the first quarter valued at approximately $15,960,000. SG Americas Securities LLC raised its stake in Bentley Systems by 449.7% during the first quarter. SG Americas Securities LLC now owns 384,291 shares of the company’s stock valued at $15,118,000 after buying an additional 314,387 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Bentley Systems during the first quarter valued at approximately $11,901,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insiders Place Their Bets

In other news, Director Keith A. Bentley sold 150,000 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $56.96, for a total value of $1,102,062.08. Following the sale, the insider owned 647,609 shares of the company’s stock, valued at $36,887,808.64. This trade represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,983 shares of company stock worth $16,756,067 over the last ninety days. Company insiders own 20.56% of the company’s stock.

Bentley Systems Stock Performance

Shares of BSY stock opened at $52.22 on Wednesday. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. The firm has a market capitalization of $15.25 billion, a price-to-earnings ratio of 66.10, a price-to-earnings-growth ratio of 4.25 and a beta of 1.09. The business has a 50 day simple moving average of $55.25 and a 200 day simple moving average of $49.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51.

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

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, September 23rd. Bentley Systems’s dividend payout ratio is 35.44%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group upped their price objective on Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. The Goldman Sachs Group upped their target price on Bentley Systems from $42.00 to $47.00 and gave the company a “sell” rating in a report on Thursday, August 7th. Piper Sandler upped their target price on Bentley Systems from $57.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Oppenheimer upped their target price on Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, Wall Street Zen lowered Bentley Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 16th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.60.

Bentley Systems Company Profile

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.