International Assets Investment Management LLC bought a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 116,914 shares of the company's stock, valued at approximately $59,400,000.
A number of other hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in Bentley Systems by 4,618.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company's stock valued at $26,000 after buying an additional 508 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company's stock valued at $28,000 after acquiring an additional 273 shares during the last quarter. Blue Trust Inc. raised its position 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 valued at $36,000 after acquiring an additional 685 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company's stock worth $39,000 after purchasing an additional 276 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its stake in Bentley Systems by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company's stock worth $41,000 after purchasing an additional 358 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.
Bentley Systems Trading Down 0.6 %
NASDAQ:BSY traded down $0.29 during mid-day trading on Monday, hitting $48.86. The company had a trading volume of 757,512 shares, compared to its average volume of 1,221,198. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The business's fifty day moving average is $49.75 and its two-hundred day moving average is $50.48. The firm has a market cap of $14.09 billion, a P/E ratio of 45.77, a P/E/G ratio of 4.09 and a beta of 1.03. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19.
Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.08. The business had revenue of $330.34 million for the quarter, compared to analysts' expectations of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 EPS. As a group, research analysts expect that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.
Bentley Systems Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 0.49%. Bentley Systems's dividend payout ratio (DPR) is currently 22.43%.
Insider Buying and Selling
In related news, Director Raymond B. Bentley sold 91,045 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the transaction, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Raymond B. Bentley sold 91,045 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Barry J. Bentley sold 34,987 shares of the firm's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $48.37, for a total value 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,032 shares of company stock valued at $13,720,676. Insiders own 21.12% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on BSY. Rosenblatt Securities reissued a "buy" rating and set a $62.00 target price on shares of Bentley Systems in a report on Monday, September 16th. The Goldman Sachs Group dropped their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada restated an "outperform" rating and issued a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Piper Sandler reiterated an "overweight" rating and set a $63.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Bentley Systems currently has a consensus rating of "Moderate Buy" and an average price target of $59.57.
Check Out Our Latest Stock Analysis on Bentley Systems
Bentley Systems Company Profile
(
Free Report)
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.
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