Holocene Advisors LP Buys 98,971 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Holocene Advisors LP raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 356.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,766 shares of the company's stock after purchasing an additional 98,971 shares during the period. Holocene Advisors LP's holdings in Bentley Systems were worth $6,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of BSY. Kayne Anderson Rudnick Investment Management LLC raised its stake in Bentley Systems by 3.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company's stock valued at $778,832,000 after purchasing an additional 586,458 shares during the last quarter. Swedbank AB raised its position in Bentley Systems by 24.2% in the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company's stock valued at $260,874,000 after purchasing an additional 1,000,000 shares in the last quarter. Impax Asset Management Group plc acquired a new stake in shares of Bentley Systems during the 3rd quarter worth about $88,771,000. Handelsbanken Fonder AB raised its position in shares of Bentley Systems by 41.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company's stock worth $67,222,000 after acquiring an additional 390,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Bentley Systems by 7.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company's stock worth $60,839,000 after buying an additional 85,565 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

Bentley Systems Stock Performance

Shares of BSY stock traded up $1.11 during trading on Wednesday, reaching $50.58. 876,857 shares of the company's stock traded hands, compared to its average volume of 1,198,234. The firm's 50-day moving average is $49.21 and its 200 day moving average is $49.66. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $14.70 billion, a P/E ratio of 45.57, a PEG ratio of 4.27 and a beta of 1.03. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting 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 for the quarter, compared to analyst estimates of $340.36 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Tuesday, December 3rd. Bentley Systems's payout ratio is 21.62%.

Insider Activity

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the completion of the transaction, the director now directly owns 12,298,230 shares of the company's stock, valued at approximately $617,371,146. The trade was a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 234,987 shares of company stock valued at $11,667,821. Corporate insiders own 21.12% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BSY. The Goldman Sachs Group lowered their price target on Bentley Systems from $57.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Rosenblatt Securities restated a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a report on Friday, November 8th. Piper Sandler lifted their price objective on Bentley Systems from $63.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.50.

Bentley Systems 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.