Vanguard Group Inc. Purchases 355,092 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Vanguard Group Inc. boosted its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,117,534 shares of the company’s stock after buying an additional 355,092 shares during the quarter. Vanguard Group Inc. owned approximately 7.74% of Bentley Systems worth $1,154,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bridgewater Associates LP grew its stake in shares of Bentley Systems by 10.5% during the fourth quarter. Bridgewater Associates LP now owns 325,786 shares of the company’s stock valued at $17,000,000 after buying an additional 30,982 shares during the last quarter. Waterloo Capital L.P. bought a new position in Bentley Systems during the 4th quarter worth approximately $623,000. CenterBook Partners LP increased its stake in Bentley Systems by 54.5% in the 4th quarter. CenterBook Partners LP now owns 17,111 shares of the company’s stock worth $893,000 after purchasing an additional 6,038 shares during the period. Envestnet Asset Management Inc. increased its stake in Bentley Systems by 2.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,113,400 shares of the company’s stock worth $58,097,000 after purchasing an additional 23,771 shares during the period. Finally, Baldwin Investment Management LLC boosted its stake in shares of Bentley Systems by 181.2% during the fourth quarter. Baldwin Investment Management LLC now owns 23,750 shares of the company’s stock valued at $1,239,000 after purchasing an additional 15,305 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Price Performance

Shares of BSY stock opened at $51.39 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.53. The stock has a market cap of $14.82 billion, a price-to-earnings ratio of 48.03, a PEG ratio of 4.59 and a beta of 1.04. The business’s fifty day moving average is $52.46 and its 200 day moving average is $51.26. Bentley Systems, Incorporated has a twelve month low of $44.76 and a twelve month high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Tuesday, May 7th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. The firm had revenue of $337.76 million for the quarter, compared to the consensus estimate of $335.00 million. Research analysts expect that Bentley Systems, Incorporated will post 0.85 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, June 4th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. Bentley Systems’s dividend payout ratio is currently 22.43%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Mizuho lifted their target price on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Piper Sandler reiterated an “overweight” rating and set a $63.00 target price (up from $60.00) on shares of Bentley Systems in a report on Wednesday, May 8th. Rosenblatt Securities reissued a “buy” rating and issued a $60.00 target price on shares of Bentley Systems in a research note on Tuesday, April 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. Finally, William Blair started coverage on Bentley Systems in a research note on Thursday, March 28th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and an average target price of $61.29.

Insider Buying and Selling

In other Bentley Systems news, Director Keith A. Bentley sold 118,949 shares of Bentley Systems stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total transaction of $6,543,384.49. Following the completion of the transaction, the director now owns 17,031,803 shares in the company, valued at $936,919,483.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the sale, the director now owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith A. Bentley sold 118,949 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total value of $6,543,384.49. Following the transaction, the director now directly owns 17,031,803 shares in the company, valued at $936,919,483.03. The disclosure for this sale can be found here. Insiders have sold 195,390 shares of company stock worth $10,748,234 in the last 90 days. 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.