M&T Bank Corp Sells 2,732 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

M&T Bank Corp lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,724 shares of the company’s stock after selling 2,732 shares during the quarter. M&T Bank Corp’s holdings in Bentley Systems were worth $2,856,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Private Trust Co. NA increased its position in Bentley Systems by 87.3% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $28,000 after purchasing an additional 254 shares during the period. Fifth Third Bancorp raised its stake in shares of Bentley Systems by 97.4% during the fourth quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock worth $39,000 after buying an additional 371 shares during the last quarter. Van ECK Associates Corp acquired a new position in Bentley Systems in the fourth quarter valued at approximately $72,000. Global Retirement Partners LLC boosted its stake in Bentley Systems by 439.4% in the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the company’s stock valued at $73,000 after acquiring an additional 1,226 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Bentley Systems by 46.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,257 shares of the company’s stock worth $113,000 after acquiring an additional 721 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BSY shares. Piper Sandler reissued an “overweight” rating and issued a $60.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, February 28th. Robert W. Baird increased their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. William Blair started coverage on shares of Bentley Systems in a report on Thursday, March 28th. They set an “outperform” rating for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $60.00 price target on shares of Bentley Systems in a research report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.44.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $54.93 on Wednesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market cap of $15.70 billion, a price-to-earnings ratio of 55.48, a price-to-earnings-growth ratio of 5.36 and a beta of 1.08. Bentley Systems, Incorporated has a one year low of $41.59 and a one year high of $55.37. The stock’s 50-day moving average is $50.83 and its 200-day moving average is $50.85.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $313.67 million. During the same period last year, the company earned $0.13 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities analysts predict that Bentley Systems, Incorporated will post 0.82 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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. The ex-dividend date was Tuesday, March 19th. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. Bentley Systems’s dividend payout ratio (DPR) is presently 24.24%.

Insider Activity at Bentley Systems

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

About Bentley Systems

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.