Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 98.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,562 shares of the company’s stock after selling 2,499,865 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Bentley Systems were worth $1,595,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Bentley Systems by 2.6% in 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 during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Bentley Systems by 4.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock worth $677,987,000 after buying an additional 578,512 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Bentley Systems by 1.9% during the 3rd quarter. Artisan Partners Limited Partnership now owns 5,446,498 shares of the company’s stock valued at $273,196,000 after acquiring an additional 100,207 shares in the last quarter. Northern Trust Corp lifted its stake in Bentley Systems by 6.5% in the 3rd quarter. Northern Trust Corp now owns 1,625,197 shares of the company’s stock worth $81,520,000 after purchasing an additional 99,319 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Bentley Systems by 13.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,734 shares of the company’s stock worth $70,311,000 after purchasing an additional 170,581 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. William Blair initiated coverage on Bentley Systems in a research report on Thursday, March 28th. They set an “outperform” rating on the stock. Robert W. Baird boosted their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Rosenblatt Securities upgraded 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 research report on Monday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $60.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.44.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $53.20 on Tuesday. Bentley Systems, Incorporated has a fifty-two week low of $40.89 and a fifty-two week high of $55.37. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55. The company has a 50 day moving average price of $50.59 and a 200 day moving average price of $50.82. The stock has a market capitalization of $15.20 billion, a P/E ratio of 53.74, a PEG ratio of 5.28 and a beta of 1.10.

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

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were given a $0.06 dividend. This is an increase from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Tuesday, March 19th. Bentley Systems’s payout ratio is currently 24.24%.

Insiders Place Their Bets

In other news, Director Keith A. Bentley sold 88,925 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total value of $4,400,009.00. Following the completion of the transaction, the director now 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 SEC, which is available at the SEC website. Insiders own 21.12% of the company’s stock.

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.