Quantitative Systematic Strategies LLC Sells 12,186 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Quantitative Systematic Strategies LLC lessened its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 77.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,494 shares of the company’s stock after selling 12,186 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Bentley Systems were worth $226,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BSY. Principal Financial Group Inc. boosted its holdings in Bentley Systems by 5.8% in the first quarter. Principal Financial Group Inc. now owns 305,252 shares of the company’s stock worth $14,326,000 after acquiring an additional 16,757 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Bentley Systems during the first quarter worth about $298,000. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Bentley Systems during the first quarter worth about $2,764,000. Artisan Partners Limited Partnership lifted its holdings in shares of Bentley Systems by 11.4% during the first quarter. Artisan Partners Limited Partnership now owns 1,914,719 shares of the company’s stock worth $89,858,000 after purchasing an additional 196,016 shares during the period. Finally, Banque Pictet & Cie SA lifted its holdings in shares of Bentley Systems by 71.4% during the first quarter. Banque Pictet & Cie SA now owns 12,000 shares of the company’s stock worth $563,000 after purchasing an additional 5,000 shares during the period. 32.44% of the stock is owned by institutional investors and hedge funds.

Bentley Systems stock opened at $64.15 on Friday. The stock has a market capitalization of $17.32 billion and a PE ratio of 125.79. Bentley Systems, Incorporated has a 12 month low of $28.64 and a 12 month high of $71.92. The business has a 50 day simple moving average of $64.24 and a 200-day simple moving average of $57.61. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.71 and a quick ratio of 0.71.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Monday, August 9th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.08. The firm had revenue of $222.90 million for the quarter, compared to analyst estimates of $213.45 million. Bentley Systems had a return on equity of 74.37% and a net margin of 18.38%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts anticipate that Bentley Systems, Incorporated will post 0.64 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Wednesday, September 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend was Tuesday, August 31st. Bentley Systems’s dividend payout ratio is presently 21.43%.

In other news, EVP Raymond B. Bentley sold 118,608 shares of the company’s stock in a transaction on Wednesday, July 28th. The stock was sold at an average price of $60.12, for a total value of $7,130,712.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Barry J. Bentley sold 115,797 shares of the business’s stock in a transaction on Wednesday, July 14th. The shares were sold at an average price of $62.02, for a total value of $7,181,729.94. The disclosure for this sale can be found here. Insiders sold 940,618 shares of company stock worth $57,396,918 over the last ninety days. Corporate insiders own 24.00% of the company’s stock.

BSY has been the subject of a number of research reports. Zacks Investment Research raised Bentley Systems from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Wednesday, August 18th. Mizuho lifted their price target on Bentley Systems from $53.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, June 14th. Griffin Securities initiated coverage on Bentley Systems in a research report on Friday, July 16th. They set a “neutral” rating and a $59.47 price target for the company. Robert W. Baird lifted their price target on Bentley Systems from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, July 22nd. Finally, KeyCorp lifted their price target on Bentley Systems from $65.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, August 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $57.61.

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenWindPower, OpenTower, STAAD and RAM, LEAP and RM, SACS, MOSES, PLAXIS, SITEOPS, AutoPIPE, and LumenRT.

Recommended Story: What are the advantages of the Stochastic Momentum Index?

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

Receive News & Ratings for Bentley Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bentley Systems and related companies with MarketBeat.com's FREE daily email newsletter.