Principal Financial Group Inc. Has $10.40 Million Position in Bentley Systems, Incorporated (NASDAQ:BSY)

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

Several other large investors have also made changes to their positions in BSY. Clear Harbor Asset Management LLC lifted its holdings in Bentley Systems by 1.5% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock valued at $779,000 after purchasing an additional 220 shares during the last quarter. Advisor OS LLC grew its position in Bentley Systems by 0.7% during the 2nd quarter. Advisor OS LLC now owns 30,983 shares of the company’s stock worth $1,529,000 after acquiring an additional 226 shares during the last quarter. Magnolia Capital Advisors LLC increased its holdings in Bentley Systems by 5.4% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company’s stock valued at $242,000 after purchasing an additional 249 shares in the last quarter. GAMMA Investing LLC raised its position in Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after purchasing an additional 273 shares during the last quarter. Finally, WR Wealth Planners LLC boosted its stake in Bentley Systems by 4.5% in the second quarter. WR Wealth Planners LLC now owns 6,435 shares of the company’s stock worth $318,000 after purchasing an additional 275 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Insider Buying and Selling

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 12,298,230 shares of the company’s stock, valued at approximately $617,371,146. This represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 $820,471,566.08. The trade was a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock valued at $16,168,176 over the last ninety days. Insiders own 21.12% of the company’s stock.

Bentley Systems Trading Down 3.1 %

Shares of NASDAQ BSY opened at $46.59 on Monday. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19. The company has a market cap of $13.54 billion, a PE ratio of 41.97, a P/E/G ratio of 3.89 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 has a 50-day moving average of $49.40 and a two-hundred day moving average of $50.18.

Bentley Systems (NASDAQ:BSY) last posted its quarterly 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 business had revenue of $335.17 million during the quarter, compared to the consensus estimate of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. Bentley Systems’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. As a group, equities analysts expect that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is 21.62%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BSY shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Piper Sandler boosted their target price on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and an average price target of $59.50.

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.