Skandinaviska Enskilda Banken AB publ Purchases 11,731 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Skandinaviska Enskilda Banken AB publ increased its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 26.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,575 shares of the company’s stock after acquiring an additional 11,731 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Bentley Systems were worth $2,793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB increased its position in Bentley Systems by 514.5% during the second quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock worth $204,069,000 after acquiring an additional 3,461,500 shares during the period. Vanguard Group Inc. raised its position in shares of Bentley Systems by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company’s stock valued at $1,154,093,000 after buying an additional 355,092 shares during the last quarter. Norges Bank acquired a new stake in Bentley Systems during the fourth quarter worth about $16,424,000. Janus Henderson Group PLC increased its stake in Bentley Systems by 2,250.3% during the first quarter. Janus Henderson Group PLC now owns 211,711 shares of the company’s stock valued at $11,055,000 after acquiring an additional 202,703 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Bentley Systems by 21.2% during the second quarter. Dimensional Fund Advisors LP now owns 757,084 shares of the company’s stock valued at $37,372,000 after acquiring an additional 132,311 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insider Activity

In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the 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 SEC, which can be accessed through this hyperlink. 21.12% of the stock is currently owned by corporate insiders.

Bentley Systems Stock Up 0.2 %

BSY opened at $50.20 on Tuesday. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of 46.92, a PEG ratio of 4.08 and a beta of 1.03. 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 50-day simple moving average is $49.15 and its 200-day simple moving average is $50.55. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve 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 for the quarter, topping the consensus estimate of $0.23 by $0.08. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The firm had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. 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. Equities research analysts anticipate that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on BSY. The Goldman Sachs Group decreased their price objective on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. 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 investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus price target of $59.57.

About Bentley Systems

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.