1,756,690 Shares in Bentley Systems, Incorporated (NASDAQ:BSY) Bought by Impax Asset Management Group plc

Impax Asset Management Group plc acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,756,690 shares of the company's stock, valued at approximately $88,771,000. Impax Asset Management Group plc owned approximately 0.60% of Bentley Systems at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Forsta AP Fonden raised its holdings in shares of Bentley Systems by 45.0% in the 1st quarter. Forsta AP Fonden now owns 63,500 shares of the company's stock valued at $3,316,000 after purchasing an additional 19,700 shares during the period. International Assets Investment Management LLC bought a new stake in Bentley Systems in the third quarter valued at approximately $59,400,000. Vanguard Group Inc. lifted its position in shares of Bentley Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company's stock valued at $1,162,002,000 after buying an additional 134,516 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of Bentley Systems during the 1st quarter worth approximately $608,000. Finally, Clearline Capital LP acquired a new position in shares of Bentley Systems during the 2nd quarter worth approximately $6,999,000. Institutional investors and hedge funds own 44.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Monday, September 16th. Piper Sandler reaffirmed an "overweight" rating and set a $63.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group cut their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.57.

Bentley Systems Stock Performance

Shares of NASDAQ:BSY traded up $0.51 on Tuesday, reaching $49.56. 942,340 shares of the company's stock were exchanged, compared to its average volume of 1,210,472. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. The company has a fifty day moving average of $49.61 and a 200-day moving average of $50.46. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of 43.47, a PEG ratio of 4.04 and a beta of 1.04. 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 released its 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. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The firm had revenue of $330.34 million during the quarter, compared to the consensus estimate of $325.20 million. During the same period in the prior year, the company posted $0.20 EPS. The company's revenue was up 11.3% compared to the same quarter last year. On average, research analysts predict that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 yield of 0.48%. Bentley Systems's payout ratio is 21.05%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the business's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the completion of the transaction, the director now directly owns 12,148,235 shares in the company, valued at $618,588,126.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the sale, the director now directly owns 12,148,235 shares of the company's stock, valued at approximately $618,588,126.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Barry J. Bentley sold 34,987 shares of the company's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $48.37, for a total value of $1,692,321.19. Following the completion of the transaction, the director now directly owns 12,213,248 shares of the company's stock, valued at $590,754,805.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 326,032 shares of company stock valued at $16,168,176 in the last ninety days. 21.12% of the stock is currently owned by company insiders.

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.