Weiss Asset Management LP Takes $10.50 Million Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Weiss Asset Management LP bought a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 206,664 shares of the company's stock, valued at approximately $10,501,000. Weiss Asset Management LP owned approximately 0.07% of Bentley Systems at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Bentley Systems during the third quarter worth $59,400,000. Mirabella Financial Services LLP boosted its holdings in Bentley Systems by 1,155.0% during the third quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company's stock worth $5,018,000 after buying an additional 92,768 shares during the last quarter. Montanaro Asset Management Ltd lifted its holdings in shares of Bentley Systems by 8.8% during the 3rd quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company's stock valued at $16,839,000 after purchasing an additional 26,741 shares in the last quarter. Needham Investment Management LLC bought a new position in shares of Bentley Systems during the 3rd quarter valued at about $2,134,000. Finally, Cetera Advisors LLC acquired a new stake in Bentley Systems in the 1st quarter valued at approximately $608,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bentley Systems

In other news, Director Barry J. Bentley sold 50,000 shares of the company's stock in a transaction dated Monday, September 23rd. The stock was 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 in the company, valued at approximately $617,371,146. This represents a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 234,987 shares of company stock worth $11,667,821. 21.12% of the stock is owned by company insiders.

Bentley Systems Stock Up 0.3 %

Shares of NASDAQ:BSY traded up $0.16 during mid-day trading on Friday, hitting $49.72. 370,639 shares of the company traded hands, compared to its average volume of 1,193,782. The stock has a market cap of $14.45 billion, a P/E ratio of 44.79, a P/E/G ratio of 4.23 and a beta of 1.03. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The stock has a 50-day moving average price of $49.19 and a two-hundred day moving average price of $49.66.

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. The business had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. Bentley Systems's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. On average, equities research analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. Bentley Systems's payout ratio is 21.62%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BSY. Rosenblatt Securities reiterated a "buy" rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. Piper Sandler upped their price objective on Bentley Systems from $63.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently 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.