Squarepoint Ops LLC Makes New Investment in Bentley Systems, Incorporated (NASDAQ:BSY)

Squarepoint Ops LLC bought a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 413,337 shares of the company’s stock, valued at approximately $20,402,000.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after purchasing an additional 508 shares during the period. GAMMA Investing LLC lifted its position in Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after purchasing an additional 273 shares during the period. Blue Trust Inc. lifted its position in Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after purchasing an additional 685 shares during the period. Tortoise Investment Management LLC raised its position in shares of Bentley Systems by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after acquiring an additional 358 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Bentley Systems in the 2nd quarter valued at approximately $43,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bentley Systems

In other news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 completion of the transaction, the director now directly owns 12,298,230 shares of the company’s stock, valued at $617,371,146. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the transaction, the director now directly owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The disclosure for this sale can be found here. Company insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

NASDAQ BSY opened at $50.66 on Friday. The business has a 50 day simple moving average of $49.23 and a 200 day simple moving average of $50.56. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 47.35, a PEG ratio of 4.19 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. The business had revenue of $330.34 million during the quarter, compared to analysts’ expectations of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. Bentley Systems’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 EPS. Analysts anticipate that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 annualized dividend and a dividend yield of 0.47%. Bentley Systems’s dividend payout ratio is currently 22.43%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BSY. The Goldman Sachs Group cut their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research 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 report on Wednesday, August 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research report on Monday, September 16th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.