Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co reduced its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 25.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,554 shares of the company’s stock after selling 4,932 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Bentley Systems were worth $718,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in BSY. Vanguard Group Inc. raised its position in shares of Bentley Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock valued at $1,162,002,000 after purchasing an additional 134,516 shares during the last quarter. Swedbank AB increased its stake in Bentley Systems by 514.5% during the 2nd quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock valued at $204,069,000 after purchasing an additional 3,461,500 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Bentley Systems by 7.5% in the second quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company’s stock worth $60,839,000 after buying an additional 85,565 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Bentley Systems by 21.2% during the second quarter. Dimensional Fund Advisors LP now owns 757,084 shares of the company’s stock worth $37,372,000 after buying an additional 132,311 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Bentley Systems by 0.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 543,564 shares of the company’s stock worth $26,799,000 after buying an additional 2,923 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BSY has been the subject of a number of research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Monday, September 16th. The Goldman Sachs Group reduced their price objective on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note 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 reiterated an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.57.

Bentley Systems Stock Performance

Shares of BSY stock opened at $50.09 on Friday. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. The stock has a market cap of $14.45 billion, a PE ratio of 46.81, a price-to-earnings-growth ratio of 4.08 and a beta of 1.03. The business has a 50-day simple moving average of $49.15 and a 200-day simple moving average of $50.53.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results 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. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The company had revenue of $330.34 million during the quarter, compared to the consensus estimate of $325.20 million. During the same period in the previous year, the company posted $0.20 earnings per share. Bentley Systems’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities analysts expect that Bentley Systems, Incorporated will post 0.9 EPS for the current year.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is presently 22.43%.

Insider Activity at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of the transaction, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 21.12% of the stock is owned by company insiders.

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.