Handelsbanken Fonder AB Acquires 390,000 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Handelsbanken Fonder AB lifted its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 41.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,323,000 shares of the company’s stock after buying an additional 390,000 shares during the quarter. Handelsbanken Fonder AB owned about 0.46% of Bentley Systems worth $67,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swedbank AB raised its stake in shares of Bentley Systems by 514.5% in 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 last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Bentley Systems by 3.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock worth $778,832,000 after buying an additional 586,458 shares in the last quarter. Creative Planning boosted its position in Bentley Systems by 67.9% in the 2nd quarter. Creative Planning now owns 1,091,058 shares of the company’s stock valued at $53,855,000 after buying an additional 441,316 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Bentley Systems in the 2nd quarter valued at $20,402,000. Finally, 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 worth $1,154,093,000 after acquiring an additional 355,092 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. The Goldman Sachs Group decreased 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. Piper Sandler reiterated an “overweight” rating and set a $63.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.57.

Insider Activity

In related news, Director Barry J. Bentley sold 50,000 shares of the business’s 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 sale, the director now directly owns 12,298,230 shares of the company’s stock, valued at approximately $617,371,146. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the company’s 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 completion of the transaction, the director now owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the transaction, the director now directly owns 12,298,230 shares of the company’s stock, valued at $617,371,146. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by company insiders.

Bentley Systems Trading Down 0.9 %

Bentley Systems stock traded down $0.45 during midday trading on Friday, hitting $48.88. 521,472 shares of the stock were exchanged, compared to its average volume of 1,270,013. The stock has a market capitalization of $14.10 billion, a PE ratio of 45.68, a P/E/G ratio of 4.19 and a beta of 1.03. The company has a fifty day simple moving average of $49.36 and a two-hundred day simple moving average of $50.61. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. 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 results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The company had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. During the same period last year, the firm posted $0.20 earnings per share. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio is currently 22.43%.

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.