Bentley Systems, Incorporated (NASDAQ:BSY) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC increased its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,991 shares of the company’s stock after purchasing an additional 741 shares during the period. MML Investors Services LLC’s holdings in Bentley Systems were worth $1,371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. XTX Topco Ltd raised its position in shares of Bentley Systems by 37.9% during the 3rd quarter. XTX Topco Ltd now owns 43,104 shares of the company’s stock worth $2,190,000 after purchasing an additional 11,851 shares during the last quarter. Weiss Asset Management LP acquired a new position in shares of Bentley Systems during the 3rd quarter worth about $10,501,000. Stifel Financial Corp raised its position in shares of Bentley Systems by 0.9% during the 3rd quarter. Stifel Financial Corp now owns 465,334 shares of the company’s stock worth $23,644,000 after purchasing an additional 4,030 shares during the last quarter. Quantinno Capital Management LP acquired a new position in shares of Bentley Systems during the 3rd quarter worth about $249,000. Finally, Point72 DIFC Ltd acquired a new stake in Bentley Systems in the 3rd quarter valued at about $237,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Bentley Systems stock opened at $47.18 on Thursday. The firm has a 50 day simple moving average of $48.94 and a 200-day simple moving average of $49.31. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 42.50, a price-to-earnings-growth ratio of 4.04 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business had revenue of $335.17 million during the quarter, compared to analysts’ expectations of $340.36 million. During the same quarter in the prior year, the company posted $0.18 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts expect 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, December 12th. Investors of record on Tuesday, December 3rd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.51%. Bentley Systems’s payout ratio is currently 21.62%.

Wall Street Analyst Weigh In

A number of research firms have commented on BSY. Piper Sandler increased their price objective on shares of Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.43.

Insider Buying and Selling

In related news, Director Barry J. Bentley sold 34,987 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the completion of the transaction, the director now owns 12,213,248 shares of the company’s stock, valued at approximately $590,754,805.76. This trade represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 234,987 shares of company stock valued at $11,667,821. Company insiders own 21.12% of the company’s stock.

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.