Bentley Systems, Incorporated (NASDAQ:BSY) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating) by 0.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 445,620 shares of the company’s stock after buying an additional 3,805 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.16% of Bentley Systems worth $19,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kestra Advisory Services LLC boosted its holdings in Bentley Systems by 49.3% in the first quarter. Kestra Advisory Services LLC now owns 21,623 shares of the company’s stock valued at $955,000 after purchasing an additional 7,136 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Bentley Systems by 54.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 12,323 shares of the company’s stock valued at $544,000 after purchasing an additional 4,352 shares in the last quarter. Truist Financial Corp boosted its holdings in Bentley Systems by 68.5% in the first quarter. Truist Financial Corp now owns 103,555 shares of the company’s stock valued at $4,575,000 after purchasing an additional 42,107 shares in the last quarter. Xponance Inc. boosted its holdings in Bentley Systems by 1.5% in the first quarter. Xponance Inc. now owns 15,801 shares of the company’s stock valued at $698,000 after purchasing an additional 233 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in Bentley Systems by 10.9% in the first quarter. IFM Investors Pty Ltd now owns 27,046 shares of the company’s stock valued at $1,195,000 after purchasing an additional 2,652 shares in the last quarter. 33.12% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Price Performance

Bentley Systems stock opened at $34.25 on Monday. Bentley Systems, Incorporated has a 12 month low of $26.32 and a 12 month high of $71.92. The company has a debt-to-equity ratio of 4.09, a current ratio of 0.68 and a quick ratio of 0.68. The business has a 50 day simple moving average of $33.27 and a 200-day simple moving average of $38.06. The stock has a market capitalization of $9.45 billion, a PE ratio of 122.32, a price-to-earnings-growth ratio of 6.02 and a beta of 0.85.

Bentley Systems (NASDAQ:BSY – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. Bentley Systems had a return on equity of 55.22% and a net margin of 8.84%. The business had revenue of $275.52 million during the quarter, compared to analysts’ expectations of $268.65 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. Equities analysts predict that Bentley Systems, Incorporated will post 0.63 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 23rd. Shareholders of record on Thursday, June 9th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.35%. The ex-dividend date was Wednesday, June 8th. Bentley Systems’s payout ratio is 42.86%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Robert W. Baird lowered their price target on Bentley Systems from $55.00 to $49.00 in a report on Wednesday, May 11th. Bank of America decreased their price objective on Bentley Systems from $60.00 to $50.00 in a report on Tuesday, May 10th. Mizuho decreased their price objective on Bentley Systems from $53.00 to $45.00 in a report on Wednesday, May 11th. Oppenheimer started coverage on Bentley Systems in a report on Thursday, May 19th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Royal Bank of Canada decreased their price objective on Bentley Systems from $55.00 to $46.00 in a report on Wednesday, May 11th.

Insiders Place Their Bets

In other Bentley Systems news, Director Raymond B. Bentley sold 104,340 shares of the stock in a transaction on Friday, April 22nd. The stock was sold at an average price of $42.73, for a total value of $4,458,448.20. Following the completion of the transaction, the director now owns 17,860,832 shares in the company, valued at $763,193,351.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Bentley Systems news, Director Raymond B. Bentley sold 104,340 shares of the stock in a transaction on Friday, April 22nd. The stock was sold at an average price of $42.73, for a total value of $4,458,448.20. Following the completion of the transaction, the director now owns 17,860,832 shares in the company, valued at $763,193,351.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raymond B. Bentley sold 144,654 shares of the stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $43.62, for a total value of $6,309,807.48. Following the completion of the transaction, the director now owns 18,285,123 shares of the company’s stock, valued at approximately $797,597,065.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 592,577 shares of company stock worth $25,285,068. 22.53% of the stock is owned by corporate insiders.

About Bentley Systems

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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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.