Axa S.A. Trims Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Axa S.A. trimmed its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,295,183 shares of the company’s stock after selling 5,045 shares during the period. Axa S.A. owned approximately 0.45% of Bentley Systems worth $63,930,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after purchasing an additional 508 shares during the period. GAMMA Investing LLC raised its holdings in 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 buying an additional 273 shares during the period. Blue Trust Inc. lifted its position in Bentley Systems by 68,500.0% in the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after buying an additional 685 shares during the last quarter. Tortoise Investment Management LLC boosted 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 buying an additional 358 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Bentley Systems during the second quarter valued at about $43,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the sale, the director now directly owns 12,298,230 shares in the company, valued at approximately $617,371,146. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Barry J. Bentley sold 50,000 shares of the 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 transaction, the director now owns 12,298,230 shares in the company, valued at approximately $617,371,146. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by company insiders.

Bentley Systems Stock Down 0.9 %

Shares of NASDAQ BSY opened at $50.01 on Thursday. The stock has a market cap of $14.53 billion, a P/E ratio of 46.74, a PEG ratio of 4.19 and a beta of 1.03. The business’s fifty day simple moving average is $49.19 and its 200-day simple moving average is $50.56. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. 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) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) 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 company had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. During the same quarter last year, the company earned $0.20 EPS. Bentley Systems’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities analysts predict that Bentley Systems, Incorporated will post 0.9 EPS 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. Investors of record on Tuesday, September 17th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. Bentley Systems’s dividend payout ratio is currently 22.43%.

Analyst Upgrades and Downgrades

BSY has been the topic of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research note on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group cut their price objective on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.57.

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.