Private Trust Co. NA Increases Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Private Trust Co. NA increased its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 87.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 545 shares of the company’s stock after purchasing an additional 254 shares during the period. Private Trust Co. NA’s holdings in Bentley Systems were worth $28,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Bentley Systems during the fourth quarter worth approximately $58,006,000. Alliancebernstein L.P. grew its holdings in shares of Bentley Systems by 1,170.6% during the 2nd quarter. Alliancebernstein L.P. now owns 1,031,012 shares of the company’s stock valued at $55,912,000 after acquiring an additional 949,869 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Bentley Systems by 223.4% during the 3rd quarter. California Public Employees Retirement System now owns 1,045,289 shares of the company’s stock valued at $52,432,000 after acquiring an additional 722,046 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Bentley Systems by 4.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock valued at $677,987,000 after acquiring an additional 578,512 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Bentley Systems by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after acquiring an additional 556,363 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BSY shares. Robert W. Baird upped their price objective on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. William Blair assumed coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Bentley Systems in a report on Wednesday, February 28th. Finally, Rosenblatt Securities raised shares of Bentley Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $54.00 to $60.00 in a report on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus price target of $58.44.

Bentley Systems Stock Performance

NASDAQ BSY opened at $49.94 on Friday. The company has a market capitalization of $14.27 billion, a P/E ratio of 50.44, a P/E/G ratio of 5.14 and a beta of 1.10. Bentley Systems, Incorporated has a 12-month low of $40.89 and a 12-month high of $55.37. The firm has a 50-day moving average price of $50.77 and a two-hundred day moving average price of $50.78. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.72.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The business had revenue of $310.64 million for the quarter, compared to analyst estimates of $313.67 million. During the same period in the prior year, the firm earned $0.13 earnings per share. Bentley Systems’s revenue was up 8.3% on a year-over-year basis. Analysts anticipate that Bentley Systems, Incorporated will post 0.82 earnings per share for the current year.

Bentley Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were given a dividend of $0.06 per share. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Tuesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is presently 24.24%.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 88,925 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the transaction, the director now directly owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.53% of the stock is owned by insiders.

About Bentley Systems

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.