Edgestream Partners L.P. Takes Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Edgestream Partners L.P. bought a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 23,782 shares of the company’s stock, valued at approximately $1,174,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after acquiring an additional 508 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Bentley Systems by 90.1% during the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after buying an additional 273 shares during the last quarter. Blue Trust Inc. raised its position in shares of Bentley Systems by 68,500.0% during the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after buying an additional 685 shares during the last quarter. Tortoise Investment Management LLC raised its position in shares of Bentley Systems by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after buying an additional 358 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Bentley Systems during the second quarter valued at about $43,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insiders Place Their Bets

In other news, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the sale, the director now directly owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

Shares of Bentley Systems stock opened at $50.09 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 stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of 46.81, a P/E/G ratio of 4.08 and a beta of 1.03. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19. The firm’s 50-day moving average price is $49.15 and its two-hundred day moving average price is $50.53.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.08. The firm had revenue of $330.34 million for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $0.20 earnings per share. On average, equities analysts predict that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.24 annualized dividend and a yield of 0.48%. Bentley Systems’s dividend payout ratio is 22.43%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BSY. The Goldman Sachs Group cut their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Monday, September 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $63.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.57.

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.