14,011 Shares in Bentley Systems, Incorporated (NASDAQ:BSY) Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC purchased a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,011 shares of the company’s stock, valued at approximately $692,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after purchasing an additional 508 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Bentley Systems by 90.1% in the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after acquiring an additional 273 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Bentley Systems by 68,500.0% in the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after acquiring an additional 685 shares during the period. Tortoise Investment Management LLC lifted its holdings in shares of Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after acquiring an additional 358 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Bentley Systems during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Bentley Systems stock opened at $49.78 on Wednesday. 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 stock has a 50 day moving average of $49.31 and a 200-day moving average of $50.62. The stock has a market cap of $14.36 billion, a P/E ratio of 46.52, a price-to-earnings-growth ratio of 4.19 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.

Bentley Systems (NASDAQ:BSY) last announced 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. The company had revenue of $330.34 million during the quarter, compared to analyst estimates of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. On average, analysts expect that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s payout ratio is currently 22.43%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BSY. Piper Sandler restated an “overweight” rating and set a $63.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Monday, September 16th. The Goldman Sachs Group lowered their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. One 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 stock presently has an average rating of “Moderate Buy” and an average price target of $59.57.

Insiders Place Their Bets

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

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.