International Assets Investment Management LLC Purchases New Position in Bentley Systems, Incorporated (NASDAQ:BSY)

International Assets Investment Management LLC acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 116,914 shares of the company’s stock, valued at approximately $59,400,000.

A number of other institutional investors have also made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Bentley Systems by 0.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 449,954 shares of the company’s stock valued at $23,497,000 after purchasing an additional 4,008 shares during the period. Norden Group LLC acquired a new position in Bentley Systems during the 1st quarter worth $3,134,000. Diversify Advisory Services LLC bought a new stake in Bentley Systems during the first quarter valued at about $935,000. Janney Montgomery Scott LLC grew its position in shares of Bentley Systems by 3.3% in the first quarter. Janney Montgomery Scott LLC now owns 204,967 shares of the company’s stock valued at $10,703,000 after purchasing an additional 6,508 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Bentley Systems by 7.9% in the first quarter. Nordea Investment Management AB now owns 15,569 shares of the company’s stock worth $814,000 after purchasing an additional 1,146 shares during the period. 44.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 34,987 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the sale, the director now directly owns 12,213,248 shares of the company’s stock, valued at $590,754,805.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Barry J. Bentley sold 34,987 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the transaction, the director now owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,032 shares of company stock valued at $13,720,676. Insiders own 21.12% of the company’s stock.

Analyst Upgrades and Downgrades

BSY has been the subject of a number of analyst reports. 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. Piper Sandler restated an “overweight” rating and set a $63.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Monday, September 16th. Finally, The Goldman Sachs Group dropped their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.57.

Bentley Systems Stock Up 0.9 %

NASDAQ BSY opened at $49.15 on Monday. The stock’s 50 day simple moving average is $49.75 and its 200 day simple moving average is $50.48. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. The firm has a market cap of $14.18 billion, a PE ratio of 45.93, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03. 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 (NASDAQ:BSY) last announced its earnings results on Tuesday, August 6th. The company reported $0.31 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 company had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts forecast that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s payout ratio is presently 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.