HighPoint Advisor Group LLC Invests $429,000 in Bentley Systems, Incorporated (NASDAQ:BSY)

HighPoint Advisor Group LLC purchased a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,381 shares of the company’s stock, valued at approximately $429,000.

Several other large investors have also recently bought and sold shares of the stock. UBS Group AG increased its position in Bentley Systems by 258.2% during the 3rd quarter. UBS Group AG now owns 157,448 shares of the company’s stock worth $7,898,000 after buying an additional 113,491 shares during the period. PNC Financial Services Group Inc. increased its position in Bentley Systems by 46.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,257 shares of the company’s stock worth $113,000 after acquiring an additional 721 shares during the period. Kestra Advisory Services LLC raised its stake in Bentley Systems by 4.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 24,480 shares of the company’s stock worth $1,228,000 after purchasing an additional 965 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Bentley Systems in the 3rd quarter valued at about $1,726,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Bentley Systems by 43.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock worth $54,656,000 after purchasing an additional 327,577 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Keith A. Bentley sold 17,021 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the sale, the director now owns 17,150,752 shares in the company, valued at approximately $943,291,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the sale, the director now directly owns 17,150,752 shares in the company, valued at approximately $943,291,360. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Keith A. Bentley sold 59,420 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $55.01, for a total transaction of $3,268,694.20. Following the completion of the transaction, the director now owns 16,972,383 shares of the company’s stock, valued at $933,650,788.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,390 shares of company stock worth $10,748,234. Insiders own 21.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Mizuho lifted their price target on shares of Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 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, February 28th. William Blair assumed coverage on Bentley Systems in a report on Thursday, March 28th. They set an “outperform” rating on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a research note on Tuesday, April 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $63.00 price objective (up previously from $60.00) on shares of Bentley Systems in a research report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Bentley Systems Price Performance

Shares of BSY stock opened at $51.87 on Thursday. The business has a fifty day simple moving average of $52.42 and a 200 day simple moving average of $51.25. The company has a market cap of $14.96 billion, a P/E ratio of 48.48, a P/E/G ratio of 4.53 and a beta of 1.04. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.53. Bentley Systems, Incorporated has a twelve month low of $44.76 and a twelve month high of $57.19.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Tuesday, May 7th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $337.76 million during the quarter, compared to analysts’ expectations of $335.00 million. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. On average, sell-side analysts forecast that Bentley Systems, Incorporated will post 0.85 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.46%. Bentley Systems’s payout ratio is presently 22.43%.

Bentley Systems Company 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.