Evoke Wealth LLC Acquires New Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Evoke Wealth LLC acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 32,899 shares of the company’s stock, valued at approximately $1,717,000.

Other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA boosted its stake in shares of Bentley Systems by 87.3% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $28,000 after buying an additional 254 shares during the period. Fifth Third Bancorp boosted its stake in shares of Bentley Systems by 97.4% in the fourth quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock valued at $39,000 after buying an additional 371 shares in the last quarter. Van ECK Associates Corp acquired a new position in Bentley Systems during the fourth quarter worth $72,000. Global Retirement Partners LLC boosted its position in shares of Bentley Systems by 439.4% during the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the company’s stock worth $73,000 after purchasing an additional 1,226 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Bentley Systems in the fourth quarter valued at about $73,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

Shares of BSY stock opened at $50.24 on Friday. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of 46.95, a price-to-earnings-growth ratio of 4.44 and a beta of 1.08. The company has a 50 day moving average price of $52.46 and a 200 day moving average price of $51.44. Bentley Systems, Incorporated has a one year low of $44.76 and a one year high of $57.19. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.57 and a current ratio of 0.57.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. The company had revenue of $337.76 million during the quarter, compared to analyst estimates of $335.00 million. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.85 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, June 4th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. Bentley Systems’s dividend payout ratio (DPR) is 22.43%.

Analysts Set New Price Targets

Several brokerages recently issued reports on BSY. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, February 28th. Piper Sandler reissued an “overweight” rating and set a $63.00 price target (up previously from $60.00) on shares of Bentley Systems in a research report on Wednesday, May 8th. Robert W. Baird upped their price objective on Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Rosenblatt Securities reissued a “buy” rating and issued a $60.00 target price on shares of Bentley Systems in a research note on Tuesday, April 30th. Finally, Mizuho raised their price target on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $61.29.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now owns 17,150,752 shares in the company, valued at $943,291,360. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the firm’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 completion of the sale, the director now owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction 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 owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The disclosure for this sale can be found here. In the last three months, insiders sold 284,315 shares of company stock worth $15,148,243. Corporate insiders own 21.12% of the company’s stock.

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.