Bentley Systems, Incorporated (NASDAQ:BSY) Position Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 20.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 204,612 shares of the company’s stock after purchasing an additional 34,871 shares during the period. Principal Financial Group Inc. owned 0.07% of Bentley Systems worth $10,396,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Tidal Investments LLC increased its stake in Bentley Systems by 21.8% during the third quarter. Tidal Investments LLC now owns 7,169 shares of the company’s stock valued at $364,000 after purchasing an additional 1,284 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Bentley Systems by 5.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 77,380 shares of the company’s stock valued at $3,754,000 after buying an additional 3,732 shares during the period. Anchor Investment Management LLC bought a new stake in shares of Bentley Systems during the 3rd quarter valued at about $110,000. Toronto Dominion Bank raised its stake in Bentley Systems by 30.9% during the third quarter. Toronto Dominion Bank now owns 20,188 shares of the company’s stock worth $1,026,000 after acquiring an additional 4,770 shares during the period. Finally, MML Investors Services LLC lifted its holdings in Bentley Systems by 2.8% in the third quarter. MML Investors Services LLC now owns 26,991 shares of the company’s stock worth $1,371,000 after acquiring an additional 741 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insider Activity

In related news, Director Barry J. Bentley sold 34,987 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $48.37, for a total value of $1,692,321.19. Following the completion of the transaction, the director now owns 12,213,248 shares of the company’s stock, valued at approximately $590,754,805.76. This trade represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 184,987 shares of company stock valued at $9,157,821 over the last three months. Insiders own 21.12% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $47.58 on Tuesday. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. 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 firm has a 50-day moving average of $48.61 and a two-hundred day moving average of $49.19. The company has a market capitalization of $13.83 billion, a price-to-earnings ratio of 42.86, a PEG ratio of 4.04 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The firm had revenue of $335.17 million during the quarter, compared to analysts’ expectations of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. As a group, analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

Wall Street Analyst Weigh In

BSY has been the subject of a number of analyst reports. Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Friday, November 8th. JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company. Finally, Piper Sandler lifted their price objective on shares of Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.43.

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.