10,724 Shares in Bentley Systems, Incorporated (NASDAQ:BSY) Purchased by Strategic Advocates LLC

Strategic Advocates LLC purchased a new stake in Bentley Systems, Incorporated (NASDAQ:BSYFree Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,724 shares of the company’s stock, valued at approximately $560,000.

Several other institutional investors have also recently made changes to their positions in BSY. Private Trust Co. NA grew its stake in shares of Bentley Systems by 87.3% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after buying an additional 254 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Bentley Systems by 97.4% during the 4th quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock worth $39,000 after purchasing an additional 371 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of Bentley Systems during the 4th quarter worth about $72,000. Global Retirement Partners LLC raised its holdings in shares of Bentley Systems by 439.4% in the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the company’s stock valued at $73,000 after purchasing an additional 1,226 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Bentley Systems in the 4th quarter valued at about $73,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insider Buying and Selling

In other news, Director Keith A. Bentley sold 17,021 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares in the company, valued at approximately $943,291,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Keith A. Bentley sold 59,420 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $55.01, for a total transaction of $3,268,694.20. Following the completion of the sale, the director now directly owns 16,972,383 shares in the company, valued at approximately $933,650,788.83. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the sale, the director now directly owns 17,150,752 shares in the company, valued at $943,291,360. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,390 shares of company stock worth $10,748,234. Company insiders own 21.12% of the company’s stock.

Bentley Systems Stock Performance

NASDAQ:BSY traded up $0.60 during mid-day trading on Tuesday, reaching $51.87. 2,017,846 shares of the company’s stock were exchanged, compared to its average volume of 1,368,392. Bentley Systems, Incorporated has a one year low of $44.76 and a one year high of $57.19. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.57 and a current ratio of 0.57. The business’s fifty day simple moving average is $52.42 and its two-hundred day simple moving average is $51.25. The firm has a market capitalization of $14.96 billion, a PE ratio of 48.48, a price-to-earnings-growth ratio of 4.44 and a beta of 1.04.

Bentley Systems (NASDAQ:BSYGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The business had revenue of $337.76 million during the quarter, compared to analysts’ expectations of $335.00 million. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. Analysts anticipate that Bentley Systems, Incorporated will post 0.85 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Tuesday, June 4th. Bentley Systems’s dividend payout ratio (DPR) is currently 22.43%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $63.00 price target (up previously from $60.00) on shares of Bentley Systems in a research report on Wednesday, May 8th. Rosenblatt Securities restated a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a research note on Tuesday, April 30th. William Blair started coverage on shares of Bentley Systems in a research report on Thursday, March 28th. They set an “outperform” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, February 28th. Finally, Mizuho lifted their target price on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Check Out Our Latest Stock Analysis on Bentley Systems

About Bentley Systems

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Bentley Systems (NASDAQ:BSY)

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