APG Asset Management N.V. Reduces Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

APG Asset Management N.V. cut its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 216,131 shares of the company’s stock after selling 1,044 shares during the quarter. APG Asset Management N.V.’s holdings in Bentley Systems were worth $9,954,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Bentley Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock valued at $1,162,002,000 after buying an additional 134,516 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Bentley Systems by 3.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock worth $778,832,000 after acquiring an additional 586,458 shares during the period. Swedbank AB lifted its stake in Bentley Systems by 514.5% in the 2nd quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock worth $204,069,000 after purchasing an additional 3,461,500 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Bentley Systems by 7.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company’s stock valued at $60,839,000 after purchasing an additional 85,565 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Bentley Systems by 21.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 757,084 shares of the company’s stock valued at $37,372,000 after purchasing an additional 132,311 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the transaction, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the 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 sale, the director now owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the sale, the director now directly owns 12,298,230 shares in the company, valued at approximately $617,371,146. The disclosure for this sale can be found here. Company insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

Shares of Bentley Systems stock opened at $50.84 on Friday. The business’s 50-day moving average price is $49.27 and its 200-day moving average price is $50.59. The firm has a market capitalization of $14.67 billion, a PE ratio of 47.51, a price-to-earnings-growth ratio of 4.19 and a beta of 1.03. 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 EPS 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 the consensus estimate of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. Sell-side analysts forecast that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BSY shares. The Goldman Sachs Group lowered their price objective on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and set a $63.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Monday, September 16th. 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, the stock currently has a consensus 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.