Victory Capital Management Inc. Grows Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Victory Capital Management Inc. lifted its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,099 shares of the company’s stock after buying an additional 3,163 shares during the quarter. Victory Capital Management Inc.’s holdings in Bentley Systems were worth $4,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Bentley Systems in the third quarter valued at approximately $59,400,000. Montanaro Asset Management Ltd raised its stake in shares of Bentley Systems by 8.8% during the third quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock worth $16,839,000 after acquiring an additional 26,741 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Bentley Systems during the first quarter worth approximately $608,000. Clearline Capital LP purchased a new position in shares of Bentley Systems during the second quarter worth approximately $6,999,000. Finally, Impax Asset Management Group plc purchased a new position in shares of Bentley Systems during the third quarter worth approximately $88,771,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $48.95, for a total value of $2,447,500.00. Following the completion of the transaction, the director now owns 12,048,235 shares of the company’s stock, valued at $589,761,103.25. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $4,500,354.35. Following the completion of the transaction, the director now directly owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 326,032 shares of company stock worth $16,168,176. Corporate insiders own 21.12% of the company’s stock.

Bentley Systems Stock Performance

Shares of BSY stock opened at $48.51 on Friday. Bentley Systems, Incorporated has a 12 month low of $43.82 and a 12 month high of $57.19. The stock has a market cap of $14.10 billion, a PE ratio of 43.70, a price-to-earnings-growth ratio of 3.99 and a beta of 1.04. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The company’s fifty day moving average price is $49.30 and its 200-day moving average price is $50.02.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm had revenue of $335.17 million for the quarter, compared to analysts’ expectations of $340.36 million. During the same quarter in the previous year, the business posted $0.18 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued 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 was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

Analyst Upgrades and Downgrades

BSY has been the topic of several research reports. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th. The Goldman Sachs Group decreased their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Piper Sandler raised their target price on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

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.