5,983 Shares in Bentley Systems, Incorporated $BSY Bought by Park Avenue Securities LLC

Park Avenue Securities LLC bought a new position in Bentley Systems, Incorporated (NASDAQ:BSY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,983 shares of the company’s stock, valued at approximately $323,000.

Other hedge funds also recently made changes to their positions in the company. City Holding Co. purchased a new position in shares of Bentley Systems in the first quarter worth $26,000. Geneos Wealth Management Inc. increased its stake in shares of Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after buying an additional 627 shares during the period. Twin Tree Management LP increased its stake in shares of Bentley Systems by 361.9% in the first quarter. Twin Tree Management LP now owns 739 shares of the company’s stock worth $29,000 after buying an additional 579 shares during the period. Larson Financial Group LLC increased its stake in shares of Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock worth $30,000 after buying an additional 717 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Bentley Systems by 106.6% in the first quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock worth $33,000 after buying an additional 435 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Ratings Changes

A number of research analysts have issued reports on BSY shares. Wall Street Zen downgraded shares of Bentley Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 16th. KeyCorp boosted their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Piper Sandler boosted their price objective on shares of Bentley Systems from $57.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Rosenblatt Securities downgraded shares of Bentley Systems from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $58.00 in a research report on Thursday, August 7th. Finally, Robert W. Baird set a $64.00 price objective on shares of Bentley Systems and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.60.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $51.51 on Wednesday. The stock has a market cap of $15.05 billion, a price-to-earnings ratio of 65.20, a PEG ratio of 4.19 and a beta of 1.09. The firm’s 50-day moving average is $54.30 and its 200 day moving average is $49.78. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $59.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51.

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

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were paid a $0.07 dividend. The ex-dividend date was Tuesday, September 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. Bentley Systems’s payout ratio is presently 35.44%.

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.