Kayne Anderson Rudnick Investment Management LLC Has $778.83 Million Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Kayne Anderson Rudnick Investment Management LLC raised its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,778,600 shares of the company’s stock after acquiring an additional 586,458 shares during the quarter. Bentley Systems makes up 1.9% of Kayne Anderson Rudnick Investment Management LLC’s portfolio, making the stock its 5th biggest holding. Kayne Anderson Rudnick Investment Management LLC owned 5.47% of Bentley Systems worth $778,832,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Bentley Systems by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 589,191 shares of the company’s stock worth $30,748,000 after acquiring an additional 11,923 shares during the last quarter. Norges Bank purchased a new position in Bentley Systems during the fourth quarter valued at $16,424,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Bentley Systems by 54.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,311 shares of the company’s stock valued at $434,000 after purchasing an additional 2,942 shares during the period. UBS Group AG increased its position in Bentley Systems by 10.4% in the fourth quarter. UBS Group AG now owns 173,744 shares of the company’s stock worth $9,066,000 after buying an additional 16,296 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new stake in Bentley Systems in the fourth quarter worth about $217,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $50.09 on Friday. The company has a market cap of $14.45 billion, a P/E ratio of 46.81, a P/E/G ratio of 4.08 and a beta of 1.03. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The firm’s fifty day moving average is $49.15 and its two-hundred day moving average is $50.53.

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

Bentley Systems Announces Dividend

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

Insider Activity at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction 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 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 SEC, which is available through the SEC website. 21.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.