CIBC Asset Management Inc Has $468,000 Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

CIBC Asset Management Inc increased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 4.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,203 shares of the company’s stock after acquiring an additional 378 shares during the period. CIBC Asset Management Inc’s holdings in Bentley Systems were worth $468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Bentley Systems by 4,618.2% during the second 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 last quarter. 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 last quarter. Blue Trust Inc. boosted 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 worth $36,000 after buying an additional 685 shares during the period. Central Pacific Bank Trust Division grew its holdings in Bentley Systems by 57.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after acquiring an additional 276 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its position in 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. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $47.85 on Friday. The company has a market cap of $13.91 billion, a P/E ratio of 43.11, a PEG ratio of 3.99 and a beta of 1.04. The business has a 50-day moving average price of $49.32 and a two-hundred day moving average price of $50.06. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The company had revenue of $335.17 million during the quarter, compared to the consensus estimate of $340.36 million. During the same period last year, the business posted $0.18 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BSY shares. 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 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 Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Piper Sandler lifted their price objective on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Insiders Place Their Bets

In related news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred 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 approximately $617,371,146. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond B. Bentley sold 91,045 shares of the business’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 sale, the director now directly owns 16,598,656 shares in the company, valued at $820,471,566.08. The trade was a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 326,032 shares of company stock valued at $16,168,176 in the last three months. 21.12% of the stock is currently owned by insiders.

About Bentley Systems

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.