Tidal Investments LLC Purchases 1,284 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Tidal Investments LLC boosted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 21.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 7,169 shares of the company’s stock after purchasing an additional 1,284 shares during the period. Tidal Investments LLC’s holdings in Bentley Systems were worth $364,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of Bentley Systems during the 3rd quarter valued at $59,400,000. Needham Investment Management LLC bought a new position in Bentley Systems during the third quarter valued at about $2,134,000. Mirabella Financial Services LLP lifted its position in shares of Bentley Systems by 1,155.0% in the third quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock worth $5,018,000 after buying an additional 92,768 shares during the last quarter. Montanaro Asset Management Ltd boosted its stake in shares of Bentley Systems by 8.8% during the 3rd quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock worth $16,839,000 after acquiring an additional 26,741 shares in the last quarter. Finally, Clearline Capital LP acquired a new position in shares of Bentley Systems during the 2nd quarter valued at about $6,999,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

NASDAQ:BSY opened at $47.91 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. The company has a fifty day moving average price of $48.84 and a 200 day moving average price of $49.28. The stock has a market cap of $13.93 billion, a P/E ratio of 43.16, a PEG ratio of 4.04 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last released its 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 last year, the company earned $0.18 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. Analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the completion of the sale, the director now directly owns 12,148,235 shares of the company’s stock, valued at $618,588,126.20. This trade represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 184,987 shares of company stock worth $9,157,821. Company insiders own 21.12% of the company’s stock.

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.