Aptus Capital Advisors LLC Sells 1,325 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Aptus Capital Advisors LLC lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 12.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,308 shares of the company’s stock after selling 1,325 shares during the period. Aptus Capital Advisors LLC’s holdings in Bentley Systems were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BSY. Swedbank AB lifted its holdings in shares of Bentley Systems by 514.5% in the 2nd quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock valued at $204,069,000 after acquiring an additional 3,461,500 shares during the last quarter. Impax Asset Management Group plc bought a new position in shares of Bentley Systems in the 3rd quarter valued at about $88,771,000. Fiera Capital Corp bought a new position in shares of Bentley Systems in the 3rd quarter valued at about $42,773,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Bentley Systems by 3.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock valued at $778,832,000 after acquiring an additional 586,458 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Bentley Systems by 67.9% in the 2nd quarter. Creative Planning now owns 1,091,058 shares of the company’s stock valued at $53,855,000 after acquiring an additional 441,316 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Bentley Systems stock opened at $46.59 on Friday. The firm has a market capitalization of $13.54 billion, a P/E ratio of 41.97, a price-to-earnings-growth ratio of 4.04 and a beta of 1.04. The company’s 50-day moving average is $49.40 and its 200 day moving average is $50.20. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. Research analysts forecast that Bentley Systems, Incorporated will post 0.9 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

Insider Transactions at Bentley Systems

In other news, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the transaction, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barry J. Bentley sold 34,987 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the transaction, the director now owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. This represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 326,032 shares of company stock valued at $16,168,176. 21.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on BSY shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research report on Friday, November 8th. Piper Sandler increased their price objective on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Bentley Systems 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.