Swedbank AB Raises Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Swedbank AB increased its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 36.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,007,324 shares of the company's stock after purchasing an additional 1,873,029 shares during the period. Swedbank AB owned approximately 2.41% of Bentley Systems worth $327,242,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Bentley Systems during the third quarter worth about $30,000. Central Pacific Bank Trust Division lifted its holdings in Bentley Systems by 57.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company's stock worth $39,000 after buying an additional 276 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Bentley Systems by 500.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company's stock worth $61,000 after buying an additional 1,000 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Bentley Systems by 71.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,105 shares of the company's stock worth $107,000 after acquiring an additional 880 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in shares of Bentley Systems during the third quarter worth $110,000. Hedge funds and other institutional investors own 44.16% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BSY. JPMorgan Chase & Co. started coverage on Bentley Systems in a report on Monday, December 9th. They issued a "neutral" rating and a $52.00 target price for the company. Piper Sandler lowered their price objective on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Finally, Rosenblatt Securities restated a "buy" rating and set a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $57.29.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the business's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares of the company's stock, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.12% of the stock is currently owned by insiders.

Bentley Systems Stock Up 1.4 %

Shares of BSY traded up $0.63 during mid-day trading on Friday, reaching $46.55. The company's stock had a trading volume of 1,825,769 shares, compared to its average volume of 1,085,130. The company's 50 day moving average is $47.46 and its 200 day moving average is $48.58. The stock has a market cap of $13.53 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 3.41 and a beta of 1.04. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

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

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 0.52%. Bentley Systems's dividend payout ratio (DPR) is presently 21.62%.

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.