Magnolia Capital Advisors LLC Raises Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Magnolia Capital Advisors LLC increased its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 5.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,895 shares of the company’s stock after purchasing an additional 249 shares during the period. Magnolia Capital Advisors LLC’s holdings in Bentley Systems were worth $242,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BSY. Norges Bank purchased a new stake in Bentley Systems during the 4th quarter worth about $16,424,000. UBS Group AG raised its holdings in shares of Bentley Systems by 10.4% in the 4th quarter. UBS Group AG now owns 173,744 shares of the company’s stock valued at $9,066,000 after acquiring an additional 16,296 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Bentley Systems by 2.7% in the 4th quarter. Corient Private Wealth LLC now owns 19,103 shares of the company’s stock valued at $996,000 after acquiring an additional 509 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Bentley Systems by 119.4% in the 4th quarter. Hsbc Holdings PLC now owns 57,729 shares of the company’s stock valued at $3,018,000 after acquiring an additional 31,413 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Bentley Systems by 30.5% in the 4th quarter. TD Asset Management Inc now owns 17,733 shares of the company’s stock valued at $925,000 after acquiring an additional 4,140 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

BSY opened at $50.81 on Tuesday. The stock’s 50 day simple moving average is $49.30 and its 200 day simple moving average is $50.61. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19. The firm has a market cap of $14.66 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 4.19 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last posted its quarterly 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 business had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. During the same period last year, the company earned $0.20 EPS. Bentley Systems’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, analysts predict that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a $0.06 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. Bentley Systems’s dividend payout ratio is currently 22.43%.

Insider Transactions at Bentley Systems

In other news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total value of $2,510,000.00. Following the sale, the director now directly owns 12,298,230 shares in the company, valued at approximately $617,371,146. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total value of $2,510,000.00. Following the sale, the director now directly owns 12,298,230 shares in the company, valued at approximately $617,371,146. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the sale, the director now owns 16,598,656 shares in the company, valued at $820,471,566.08. The disclosure for this sale can be found here. Corporate insiders own 21.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BSY shares. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. The Goldman Sachs Group lowered their price target 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 reaffirmed a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Monday, September 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective 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 assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.