Axxcess Wealth Management LLC Boosts Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Axxcess Wealth Management LLC lifted its position in Bentley Systems, Incorporated (NASDAQ:BSYGet Rating) by 72.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,714 shares of the company’s stock after buying an additional 5,359 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Bentley Systems were worth $423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Advisory Inc. grew its stake in Bentley Systems by 2,541.4% during the 2nd quarter. Brown Advisory Inc. now owns 1,164,340 shares of the company’s stock worth $38,773,000 after purchasing an additional 1,120,260 shares in the last quarter. Robeco Schweiz AG acquired a new position in Bentley Systems during the 2nd quarter worth $23,029,000. Pictet Asset Management SA grew its stake in Bentley Systems by 395.3% during the 2nd quarter. Pictet Asset Management SA now owns 401,516 shares of the company’s stock worth $13,371,000 after purchasing an additional 320,453 shares in the last quarter. Durable Capital Partners LP acquired a new position in Bentley Systems during the 1st quarter worth $10,128,000. Finally, LA Financiere DE L Echiquier acquired a new position in Bentley Systems during the 1st quarter worth $9,455,000. Hedge funds and other institutional investors own 35.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group raised Bentley Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $44.00 in a research report on Wednesday, November 9th. Rosenblatt Securities upped their price objective on Bentley Systems from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, November 9th. Mizuho upped their price objective on Bentley Systems from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 9th. Royal Bank of Canada decreased their target price on Bentley Systems from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Finally, TheStreet raised Bentley Systems from a “d+” rating to a “c-” rating in a research report on Friday, August 12th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.78.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Barry J. Bentley sold 160,714 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $38.53, for a total transaction of $6,192,310.42. Following the completion of the sale, the director now directly owns 13,383,457 shares of the company’s stock, valued at approximately $515,664,598.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Gregory S. Bentley sold 1,668 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $36.00, for a total transaction of $60,048.00. Following the completion of the transaction, the chief executive officer now directly owns 8,634,484 shares of the company’s stock, valued at approximately $310,841,424. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Barry J. Bentley sold 160,714 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $38.53, for a total value of $6,192,310.42. Following the transaction, the director now directly owns 13,383,457 shares of the company’s stock, valued at $515,664,598.21. The disclosure for this sale can be found here. Insiders sold a total of 365,790 shares of company stock valued at $13,786,454 in the last ninety days. Insiders own 22.53% of the company’s stock.

Bentley Systems Stock Up 0.6 %

BSY opened at $38.31 on Thursday. The business has a 50 day moving average price of $34.24 and a two-hundred day moving average price of $35.10. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 3.42. The company has a market cap of $10.60 billion, a PE ratio of 64.93, a P/E/G ratio of 6.65 and a beta of 1.20. Bentley Systems, Incorporated has a 52 week low of $26.32 and a 52 week high of $52.49.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Tuesday, November 29th. Bentley Systems’s dividend payout ratio is presently 20.34%.

Bentley Systems Company Profile

(Get Rating)

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, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.

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

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