Xponance Inc. Lowers Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Xponance Inc. lowered its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 23.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,779 shares of the company’s stock after selling 7,798 shares during the quarter. Xponance Inc.’s holdings in Bentley Systems were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Forsta AP Fonden grew its position in Bentley Systems by 45.0% during the 1st quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock worth $3,316,000 after purchasing an additional 19,700 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in Bentley Systems in the 1st quarter worth approximately $935,000. Vanguard Group Inc. raised its position in Bentley Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after buying an additional 134,516 shares during the last quarter. Bridgewater Associates LP lifted its stake in Bentley Systems by 10.5% during the 4th quarter. Bridgewater Associates LP now owns 325,786 shares of the company’s stock valued at $17,000,000 after acquiring an additional 30,982 shares during the period. Finally, Cetera Advisors LLC purchased a new stake in shares of Bentley Systems in the 1st quarter valued at $608,000. 44.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Bentley Systems Stock Up 0.4 %

Shares of NASDAQ:BSY opened at $50.84 on Friday. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19. The stock has a market cap of $14.67 billion, a P/E ratio of 47.51, a PEG ratio of 4.19 and a beta of 1.03. The business has a fifty day moving average of $49.27 and a two-hundred day moving average of $50.57. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data 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 net margin of 29.17% and a return on equity of 31.71%. The firm had revenue of $330.34 million during the quarter, compared to analyst estimates of $325.20 million. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Bentley Systems’s quarterly revenue was up 11.3% on a year-over-year basis. On average, research analysts expect that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a $0.06 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.24 annualized dividend and a yield of 0.47%. Bentley Systems’s payout ratio is 22.43%.

Wall Street Analysts Forecast Growth

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