Heritage Wealth Management LLC Invests $642,000 in Bentley Systems, Incorporated (NASDAQ:BSY)

Heritage Wealth Management LLC bought a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,303 shares of the company’s stock, valued at approximately $642,000.

A number of other institutional investors also recently modified their holdings of BSY. M&T Bank Corp raised its holdings in Bentley Systems by 0.4% in the 3rd quarter. M&T Bank Corp now owns 57,456 shares of the company’s stock valued at $2,882,000 after acquiring an additional 218 shares in the last quarter. Wealthfront Advisers LLC increased its position in shares of Bentley Systems by 1.9% in the third quarter. Wealthfront Advisers LLC now owns 12,108 shares of the company’s stock worth $607,000 after purchasing an additional 228 shares during the period. Private Trust Co. NA raised its stake in Bentley Systems by 87.3% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after purchasing an additional 254 shares in the last quarter. MJP Associates Inc. ADV lifted its position in Bentley Systems by 3.9% during the fourth quarter. MJP Associates Inc. ADV now owns 7,346 shares of the company’s stock worth $383,000 after purchasing an additional 277 shares during the period. Finally, Portside Wealth Group LLC grew its stake in Bentley Systems by 2.8% during the fourth quarter. Portside Wealth Group LLC now owns 11,412 shares of the company’s stock worth $595,000 after buying an additional 308 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

BSY has been the subject of a number of recent analyst reports. William Blair initiated coverage on shares of Bentley Systems in a report on Thursday, March 28th. They set an “outperform” rating for the company. Robert W. Baird upped their target price on Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. Piper Sandler restated an “overweight” rating and set a $60.00 price objective on shares of Bentley Systems in a research report on Wednesday, February 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $60.00 target price on shares of Bentley Systems in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.44.

Bentley Systems Trading Up 1.1 %

BSY traded up $0.58 during trading on Thursday, reaching $52.05. 148,438 shares of the company’s stock were exchanged, compared to its average volume of 1,312,841. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72. Bentley Systems, Incorporated has a one year low of $41.59 and a one year high of $55.37. The firm has a fifty day moving average price of $50.81 and a two-hundred day moving average price of $50.87. The stock has a market capitalization of $14.88 billion, a PE ratio of 51.99, a price-to-earnings-growth ratio of 5.29 and a beta of 1.08.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The company had revenue of $310.64 million for the quarter, compared to analysts’ expectations of $313.67 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Bentley Systems’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Bentley Systems, Incorporated will post 0.82 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were issued a $0.06 dividend. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Tuesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is currently 24.24%.

Insider Activity

In related news, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the sale, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of Bentley Systems stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the completion of the sale, the director now directly owns 17,164,179 shares in the company, valued at $849,283,576.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares in the company, valued at approximately $943,291,360. The disclosure for this sale can be found here. Corporate insiders own 21.12% of the company’s stock.

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.