Tredje AP fonden Sells 564 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Tredje AP fonden lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,236 shares of the company’s stock after selling 564 shares during the period. Tredje AP fonden’s holdings in Bentley Systems were worth $1,789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Bentley Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock valued at $1,162,002,000 after purchasing an additional 134,516 shares in the last quarter. Swedbank AB boosted its stake 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 in the last quarter. Envestnet Asset Management Inc. grew its position in Bentley Systems by 7.5% in the second quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company’s stock valued at $60,839,000 after acquiring an additional 85,565 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Bentley Systems by 21.2% in the second quarter. Dimensional Fund Advisors LP now owns 757,084 shares of the company’s stock valued at $37,372,000 after acquiring an additional 132,311 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Bentley Systems by 0.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 543,564 shares of the company’s stock worth $26,799,000 after acquiring an additional 2,923 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BSY shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Monday, September 16th. The Goldman Sachs Group lowered their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $63.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.57.

Bentley Systems Trading Down 1.4 %

NASDAQ BSY opened at $50.09 on Friday. The business has a 50 day simple moving average of $49.15 and a 200 day simple moving average of $50.53. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. The stock has a market capitalization of $14.45 billion, a P/E ratio of 46.81, a P/E/G ratio of 4.08 and a beta of 1.03. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.08. The company had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. Bentley Systems’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Research analysts expect that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Announces Dividend

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

Insider Activity at Bentley Systems

In other news, Director Raymond B. Bentley sold 91,045 shares of the company’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 sale, the director now owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 21.12% of the stock is owned by insiders.

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.