Edgestream Partners L.P. Acquires New Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Edgestream Partners L.P. acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 23,782 shares of the company’s stock, valued at approximately $1,174,000.

Several other large investors have also bought and sold shares of BSY. Swedbank AB lifted its holdings in Bentley Systems by 514.5% in the second quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock valued at $204,069,000 after buying an additional 3,461,500 shares during the period. Vanguard Group Inc. raised its holdings in Bentley Systems by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company’s stock worth $1,154,093,000 after purchasing an additional 355,092 shares during the period. Norges Bank acquired a new stake in Bentley Systems in the fourth quarter worth $16,424,000. Janus Henderson Group PLC raised its holdings in Bentley Systems by 2,250.3% in the first quarter. Janus Henderson Group PLC now owns 211,711 shares of the company’s stock worth $11,055,000 after purchasing an additional 202,703 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Bentley Systems by 21.2% in the second quarter. Dimensional Fund Advisors LP now owns 757,084 shares of the company’s stock worth $37,372,000 after purchasing an additional 132,311 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of the transaction, the director now owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 21.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BSY shares. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a report on Monday, September 16th. The Goldman Sachs Group cut their target price 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $63.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.57.

Bentley Systems Stock Down 1.4 %

Shares of BSY stock opened at $50.09 on Friday. The firm has a fifty day moving average of $49.15 and a 200-day moving average of $50.53. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The company has a market capitalization of $14.45 billion, a price-to-earnings ratio of 46.81, a P/E/G ratio of 4.08 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. The business had revenue of $330.34 million during 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 firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. As a group, equities research analysts predict that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is currently 22.43%.

Bentley Systems Company 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.