Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,105 Shares of Bentley Systems, Incorporated $BSY

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,145 shares of the company’s stock after acquiring an additional 1,105 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Bentley Systems were worth $925,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of BSY. Quantinno Capital Management LP grew its position in Bentley Systems by 7.2% in the 4th quarter. Quantinno Capital Management LP now owns 5,261 shares of the company’s stock valued at $246,000 after acquiring an additional 354 shares during the last quarter. Two Sigma Investments LP grew its position in Bentley Systems by 42.3% in the 4th quarter. Two Sigma Investments LP now owns 42,700 shares of the company’s stock valued at $1,994,000 after acquiring an additional 12,689 shares during the last quarter. Two Sigma Advisers LP bought a new position in Bentley Systems in the 4th quarter valued at $243,000. Vident Advisory LLC grew its position in Bentley Systems by 30.0% in the 4th quarter. Vident Advisory LLC now owns 10,235 shares of the company’s stock valued at $478,000 after acquiring an additional 2,360 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new position in Bentley Systems in the 4th quarter valued at $75,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

BSY opened at $53.60 on Tuesday. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. The business’s fifty day simple moving average is $54.97 and its 200-day simple moving average is $49.37. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of 67.85, a PEG ratio of 4.26 and a beta of 1.09.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $364.11 million during the quarter, compared to analysts’ expectations of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 EPS. On average, equities research analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 23rd. Bentley Systems’s dividend payout ratio is 35.44%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wall Street Zen downgraded Bentley Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Robert W. Baird set a $64.00 price objective on Bentley Systems and gave the company an “outperform” rating in a research report on Wednesday, July 30th. UBS Group increased their price target on Bentley Systems from $53.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Oppenheimer increased their price target on Bentley Systems from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group increased their price target on Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and an average price target of $56.60.

Insiders Place Their Bets

In related news, insider David R. Shaman sold 19,348 shares of the company’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the sale, the insider directly owned 647,609 shares in the company, valued at $36,887,808.64. This represents a 2.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Keith A. Bentley sold 150,000 shares of the company’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $55.54, for a total value of $8,331,000.00. Following the sale, the director owned 3,859,327 shares of the company’s stock, valued at $214,347,021.58. This trade represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,869 shares of company stock valued at $10,564,887 over the last 90 days. 20.56% 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.