Seven Eight Capital LP Acquires New Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Seven Eight Capital LP bought a new position in Bentley Systems, Incorporated (NASDAQ:BSY) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,279 shares of the company’s stock, valued at approximately $606,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings 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 bought a new stake in Bentley Systems during the fourth quarter worth about $16,424,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Bentley Systems by 54.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,311 shares of the company’s stock worth $434,000 after purchasing an additional 2,942 shares in the last quarter. UBS Group AG increased its position in shares of Bentley Systems by 10.4% during the 4th quarter. UBS Group AG now owns 173,744 shares of the company’s stock valued at $9,066,000 after purchasing an additional 16,296 shares during the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Bentley Systems during the 4th quarter valued at about $217,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Bentley Systems

In other news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction dated 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 approximately $820,471,566.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

BSY 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 firm’s 50-day moving average price is $49.15 and its two-hundred day moving average price is $50.53. The stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of 46.81, 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 released its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. The business had revenue of $330.34 million during the quarter, compared to analyst estimates of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. Bentley Systems’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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 Announces Dividend

The business 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 $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.48%. The ex-dividend date is Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is currently 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.