GAMMA Investing LLC Boosts Stock Holdings in Bentley Systems, Incorporated $BSY

GAMMA Investing LLC raised its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 114.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,053 shares of the company’s stock after purchasing an additional 562 shares during the period. GAMMA Investing LLC’s holdings in Bentley Systems were worth $57,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BSY. City Holding Co. bought a new position in shares of Bentley Systems in the first quarter valued at approximately $26,000. Geneos Wealth Management Inc. boosted its position 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 valued at $26,000 after acquiring an additional 627 shares during the period. Twin Tree Management LP boosted its position 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 valued at $29,000 after acquiring an additional 579 shares during the period. Larson Financial Group LLC boosted its position 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 valued at $30,000 after acquiring an additional 717 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Bentley Systems by 106.6% in the first quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock valued at $33,000 after acquiring an additional 435 shares during the period. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Wall Street Analyst Weigh In

BSY has been the subject of several research analyst reports. UBS Group lifted their target price on shares of Bentley Systems from $53.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Oppenheimer lifted their target price on shares of Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Piper Sandler lifted their target price 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. The Goldman Sachs Group lifted their target price on shares of Bentley Systems from $42.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a research report on Saturday, September 27th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bentley Systems presently has an average rating of “Hold” and a consensus target price of $56.60.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 150,000 shares of the stock in a transaction that occurred on 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 directly 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David R. Shaman sold 19,348 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider directly owned 647,609 shares of the company’s stock, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 170,713 shares of company stock valued at $9,511,690 over the last three months. 20.56% of the stock is currently owned by insiders.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $54.99 on Friday. The stock has a market cap of $16.06 billion, a price-to-earnings ratio of 69.61, a PEG ratio of 4.52 and a beta of 1.07. The firm’s 50-day moving average is $54.05 and its 200 day moving average is $49.98. 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 23rd. Bentley Systems’s dividend payout ratio is currently 35.44%.

Bentley Systems Company 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.