Principal Financial Group Inc. Has $10.40 Million Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Principal Financial Group Inc. raised its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 20.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,612 shares of the company's stock after buying an additional 34,871 shares during the period. Principal Financial Group Inc. owned about 0.07% of Bentley Systems worth $10,396,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company's stock worth $26,000 after acquiring an additional 508 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in Bentley Systems in the 2nd quarter valued at about $126,000. Van ECK Associates Corp grew its stake in shares of Bentley Systems by 843.3% during the second quarter. Van ECK Associates Corp now owns 29,206 shares of the company's stock valued at $1,441,000 after acquiring an additional 26,110 shares in the last quarter. nVerses Capital LLC lifted its stake in shares of Bentley Systems by 1,800.0% in the second quarter. nVerses Capital LLC now owns 1,900 shares of the company's stock worth $94,000 after acquiring an additional 1,800 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Bentley Systems by 25.4% in the second quarter. CIBC Asset Management Inc now owns 8,825 shares of the company's stock valued at $436,000 after purchasing an additional 1,787 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Insider Buying and Selling

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the company's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $50.92, for a total value of $2,546,000.00. Following the completion of the sale, the director now directly owns 12,148,235 shares in the company, valued at $618,588,126.20. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 184,987 shares of company stock valued at $9,157,821 over the last 90 days. 21.12% of the stock is currently owned by company insiders.

Bentley Systems Stock Performance

BSY stock traded down $0.88 during mid-day trading on Tuesday, reaching $46.70. The company had a trading volume of 554,920 shares, compared to its average volume of 1,182,277. The stock's 50-day simple moving average is $48.51 and its two-hundred day simple moving average is $49.14. The stock has a market capitalization of $13.58 billion, a P/E ratio of 42.07, a P/E/G ratio of 4.04 and a beta of 1.03. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. During the same period in the previous year, the business posted $0.18 EPS. Bentley Systems's revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems's dividend payout ratio is currently 21.62%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BSY. JPMorgan Chase & Co. began coverage on Bentley Systems in a research note on Monday, December 9th. They set a "neutral" rating and a $52.00 target price for the company. Rosenblatt Securities reissued a "buy" rating and set a $62.00 price objective on shares of Bentley Systems in a report on Friday, November 8th. Finally, Piper Sandler upped their target price on shares of Bentley Systems from $63.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Bentley Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.43.

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.