Mizuho Markets Americas LLC Purchases 29,473 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Mizuho Markets Americas LLC raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 550,157 shares of the company's stock after purchasing an additional 29,473 shares during the quarter. Mizuho Markets Americas LLC owned approximately 0.19% of Bentley Systems worth $27,953,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings 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 valued at $26,000 after purchasing an additional 508 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company's stock worth $28,000 after buying an additional 273 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company's stock worth $36,000 after buying an additional 685 shares during the period. Central Pacific Bank Trust Division grew its stake in Bentley Systems by 57.1% in the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company's stock valued at $39,000 after buying an additional 276 shares during the last quarter. Finally, Tortoise Investment Management LLC grew its stake in Bentley Systems by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company's stock valued at $41,000 after buying an additional 358 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.

Bentley Systems Price Performance

Shares of Bentley Systems stock traded down $1.50 on Friday, reaching $46.59. 1,271,371 shares of the stock were exchanged, compared to its average volume of 1,213,301. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $13.54 billion, a PE ratio of 41.97, a P/E/G ratio of 4.04 and a beta of 1.04. The firm's 50 day moving average is $49.40 and its 200-day moving average is $50.18. 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 released 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 return on equity of 29.50% and a net margin of 27.73%. The firm had revenue of $335.17 million for the quarter, compared to analysts' expectations of $340.36 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, analysts anticipate that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.52%. Bentley Systems's dividend payout ratio is currently 21.62%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BSY. Piper Sandler upped their target price on Bentley Systems from $63.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Rosenblatt Securities reissued a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Friday, November 8th. Finally, The Goldman Sachs Group lowered their price target on shares of Bentley Systems from $57.00 to $50.00 and set a "neutral" rating on the stock in a research report 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 company. Based on data from MarketBeat.com, Bentley Systems has an average rating of "Moderate Buy" and a consensus target price of $59.50.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 34,987 shares of Bentley Systems stock in a transaction on Monday, October 7th. The shares were sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the transaction, the director now owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. The trade was a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond B. Bentley sold 91,045 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the sale, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock valued at $16,168,176 in the last 90 days. Corporate insiders own 21.12% of the company's stock.

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.