Tredje AP fonden Sells 564 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Tredje AP fonden decreased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,236 shares of the company’s stock after selling 564 shares during the quarter. Tredje AP fonden’s holdings in Bentley Systems were worth $1,789,000 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. Allspring Global Investments Holdings LLC lifted its holdings in shares of Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after purchasing an additional 508 shares in the last quarter. GAMMA Investing LLC increased its stake in Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares in the last quarter. Blue Trust Inc. raised its holdings in Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after buying an additional 685 shares during the period. Tortoise Investment Management LLC lifted its stake in Bentley Systems by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after buying an additional 358 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Bentley Systems in the second quarter valued at approximately $43,000. Institutional investors own 44.16% of the company’s stock.

Insider Transactions at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Bentley Systems Stock Performance

BSY opened at $50.09 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The business’s 50-day simple moving average is $49.15 and its 200 day simple moving average is $50.53. The firm has a market capitalization of $14.45 billion, a PE ratio of 46.81, a PEG ratio of 4.08 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 posted $0.20 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts expect that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is presently 22.43%.

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.