Envestnet Portfolio Solutions Inc. Lowers Holdings in Bentley Systems, Incorporated $BSY

Envestnet Portfolio Solutions Inc. cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 21.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,066 shares of the company’s stock after selling 4,422 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Bentley Systems were worth $867,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new position in Bentley Systems in the 1st quarter worth approximately $920,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Bentley Systems by 99.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company’s stock worth $56,000 after purchasing an additional 706 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Bentley Systems by 8,187,760.9% in the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company’s stock worth $74,086,000 after purchasing an additional 1,883,185 shares in the last quarter. Cooper Investors PTY Ltd. purchased a new position in Bentley Systems in the 1st quarter worth approximately $4,765,000. Finally, CWM LLC lifted its holdings in Bentley Systems by 31.1% in the 1st quarter. CWM LLC now owns 38,413 shares of the company’s stock worth $1,511,000 after purchasing an additional 9,110 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BSY has been the topic of a number of research reports. Rosenblatt Securities raised Bentley Systems from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, October 8th. Robert W. Baird set a $64.00 price objective on Bentley Systems and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. UBS Group lifted their price objective on Bentley Systems from $53.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, KeyCorp lifted their price objective on Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.64.

Bentley Systems Stock Performance

NASDAQ BSY opened at $51.30 on Monday. The company has a market cap of $14.98 billion, a P/E ratio of 64.94, a P/E/G ratio of 4.14 and a beta of 1.07. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. The business’s 50 day moving average price is $52.97 and its 200-day moving average price is $50.82. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. The firm had revenue of $364.11 million for the quarter, compared to the consensus estimate of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. Sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. Bentley Systems’s payout ratio is currently 35.44%.

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.