Squarepoint Ops LLC Invests $20.40 Million in Bentley Systems, Incorporated (NASDAQ:BSY)

Squarepoint Ops LLC purchased a new position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 413,337 shares of the company's stock, valued at approximately $20,402,000. Squarepoint Ops LLC owned 0.14% of Bentley Systems as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BSY. Swedbank AB raised its holdings in Bentley Systems by 514.5% in the second quarter. Swedbank AB now owns 4,134,295 shares of the company's stock worth $204,069,000 after buying an additional 3,461,500 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Bentley Systems by 3.9% during 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. Vanguard Group Inc. raised its stake in shares of Bentley Systems by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company's stock worth $1,154,093,000 after purchasing an additional 355,092 shares during the last quarter. Norges Bank purchased a new stake in shares of Bentley Systems during the fourth quarter valued at $16,424,000. Finally, Janus Henderson Group PLC increased its holdings in Bentley Systems by 2,250.3% in the 1st quarter. Janus Henderson Group PLC now owns 211,711 shares of the company's stock worth $11,055,000 after buying an additional 202,703 shares in the last quarter. Institutional investors own 44.16% of the company's stock.

Analyst Ratings Changes

BSY has been the subject of a number of research reports. The Goldman Sachs Group decreased their target price on shares of Bentley Systems from $57.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. 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. Piper Sandler restated an "overweight" rating and issued a $63.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $62.00 target price on shares of Bentley Systems in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.57.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the sale, the director now owns 16,598,656 shares in the company, valued at $820,471,566.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the transaction, the director now directly owns 12,298,230 shares in the company, valued at approximately $617,371,146. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the transaction, the director now owns 16,598,656 shares in the company, valued at $820,471,566.08. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by insiders.

Bentley Systems Price Performance

Shares of BSY stock traded up $0.18 on Friday, reaching $50.84. The company's stock had a trading volume of 482,288 shares, compared to its average volume of 1,287,320. The stock's fifty day simple moving average is $49.23 and its 200-day simple moving average is $50.56. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19. The company has a market capitalization of $14.78 billion, a price-to-earnings ratio of 47.53, a price-to-earnings-growth ratio of 4.19 and a beta of 1.03. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.08. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The firm had revenue of $330.34 million for the quarter, compared to analysts' expectations of $325.20 million. During the same period in the prior year, the company earned $0.20 EPS. The business's revenue was up 11.3% compared to the same quarter last year. Analysts forecast that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid 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 dividend yield of 0.47%. Bentley Systems's dividend payout ratio is presently 22.43%.

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.