Skandinaviska Enskilda Banken AB publ Has $2.79 Million Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Skandinaviska Enskilda Banken AB publ lifted its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 26.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,575 shares of the company’s stock after acquiring an additional 11,731 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Bentley Systems were worth $2,793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake 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 acquiring an additional 508 shares during the period. GAMMA Investing LLC increased its stake in Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares in the last quarter. Blue Trust Inc. increased its stake in Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after purchasing an additional 685 shares in the last quarter. Tortoise Investment Management LLC raised its holdings in Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after buying an additional 358 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Bentley Systems in the second quarter valued at approximately $43,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $50.20 on Tuesday. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The stock has a market capitalization of $14.48 billion, a price-to-earnings ratio of 46.92, a PEG ratio of 4.08 and a beta of 1.03. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. The business has a 50-day moving average of $49.15 and a 200-day moving average of $50.55.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.08. The firm had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 EPS. As a group, sell-side analysts predict that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is currently 22.43%.

Analyst Ratings Changes

BSY has been the subject of several research reports. Piper Sandler reissued an “overweight” rating and set a $63.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Monday, September 16th. Finally, The Goldman Sachs Group decreased their price objective on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.57.

Insider Buying and Selling at Bentley Systems

In other 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 sale, the director now directly owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.12% of the company’s stock.

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.