Quantinno Capital Management LP Takes $249,000 Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Quantinno Capital Management LP bought a new position in Bentley Systems, Incorporated (NASDAQ:BSY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,907 shares of the company’s stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Impax Asset Management Group plc bought a new position in shares of Bentley Systems during the third quarter valued at approximately $88,771,000. Swedbank AB increased its position in Bentley Systems by 24.2% during the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock valued at $260,874,000 after purchasing an additional 1,000,000 shares during the period. Fiera Capital Corp bought a new position in Bentley Systems in the 3rd quarter worth $42,773,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Bentley Systems by 3.9% in 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 purchasing an additional 586,458 shares during the period. Finally, Creative Planning boosted its stake in shares of Bentley Systems by 67.9% during the 2nd quarter. Creative Planning now owns 1,091,058 shares of the company’s stock valued at $53,855,000 after purchasing an additional 441,316 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. Piper Sandler raised their target price on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.43.

Insider Buying and Selling at Bentley Systems

In other news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 12,298,230 shares of the company’s stock, valued at $617,371,146. This trade represents a 0.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 234,987 shares of company stock worth $11,667,821. Insiders own 21.12% of the company’s stock.

Bentley Systems Trading Up 1.9 %

NASDAQ BSY opened at $48.03 on Tuesday. The stock’s fifty day moving average price is $48.98 and its 200-day moving average price is $49.34. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The stock has a market cap of $13.96 billion, a P/E ratio of 43.27, a P/E/G ratio of 4.04 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.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The business had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. Bentley Systems’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. As a group, equities analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a yield of 0.50%. Bentley Systems’s dividend payout ratio is 21.62%.

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.