Forsta AP Fonden Purchases 38,800 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Forsta AP Fonden boosted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 61.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,300 shares of the company’s stock after buying an additional 38,800 shares during the period. Forsta AP Fonden’s holdings in Bentley Systems were worth $5,050,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BSY. Principal Securities Inc. purchased a new position in Bentley Systems in the 4th quarter worth approximately $73,000. Dimensional Fund Advisors LP increased its stake in Bentley Systems by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 589,191 shares of the company’s stock valued at $30,748,000 after acquiring an additional 11,923 shares during the last quarter. Principal Financial Group Inc. raised its position in Bentley Systems by 16.0% during the fourth quarter. Principal Financial Group Inc. now owns 426,535 shares of the company’s stock valued at $22,257,000 after purchasing an additional 58,758 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Bentley Systems by 3.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 198,459 shares of the company’s stock worth $10,356,000 after purchasing an additional 6,570 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Bentley Systems by 16.2% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,947 shares of the company’s stock worth $676,000 after purchasing an additional 1,804 shares in the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. The Goldman Sachs Group lowered their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Bentley Systems currently has a consensus rating of “Moderate Buy” and an average target price of $59.57.

Insider Activity

In related news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the transaction, the director now owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

BSY stock opened at $49.57 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36. The firm’s 50-day moving average price is $49.03 and its two-hundred day moving average price is $50.56. The stock has a market capitalization of $14.30 billion, a price-to-earnings ratio of 46.33, a PEG ratio of 4.08 and a beta of 1.03. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. The business had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 EPS. As a group, equities analysts predict that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Tuesday, September 17th. Bentley Systems’s dividend payout ratio is 22.43%.

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.