Kayne Anderson Rudnick Investment Management LLC Has $778.83 Million Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 3.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 15,778,600 shares of the company’s stock after buying an additional 586,458 shares during the quarter. Bentley Systems accounts for 1.9% of Kayne Anderson Rudnick Investment Management LLC’s investment portfolio, making the stock its 5th largest holding. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.05% of Bentley Systems worth $778,832,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Forsta AP Fonden boosted its holdings in Bentley Systems by 45.0% during the 1st quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $3,316,000 after acquiring an additional 19,700 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of Bentley Systems during the first quarter valued at $935,000. Vanguard Group Inc. grew its holdings in shares of Bentley Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after purchasing an additional 134,516 shares during the last quarter. Bridgewater Associates LP increased its stake in Bentley Systems by 10.5% in the 4th quarter. Bridgewater Associates LP now owns 325,786 shares of the company’s stock worth $17,000,000 after buying an additional 30,982 shares during the period. Finally, Cetera Advisors LLC bought a new stake in Bentley Systems during the 1st quarter valued at about $608,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Down 1.4 %

Shares of NASDAQ BSY opened at $50.09 on Friday. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The stock’s fifty day simple moving average is $49.15 and its two-hundred day simple moving average is $50.53. The stock has a market capitalization of $14.45 billion, a PE ratio of 46.81, a price-to-earnings-growth ratio of 4.08 and a beta of 1.03. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data 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 company had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. 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 company earned $0.20 earnings per share. As a group, analysts expect that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders 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 dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, September 17th. Bentley Systems’s payout ratio is currently 22.43%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction that occurred 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 directly owns 16,598,656 shares in the company, valued at $820,471,566.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.12% of the stock is currently owned by company 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.