Clearline Capital LP Makes New Investment in Bentley Systems, Incorporated (NASDAQ:BSY)

Clearline Capital LP bought a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 141,788 shares of the company’s stock, valued at approximately $6,999,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BSY. Allspring Global Investments Holdings LLC raised its stake in Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after buying an additional 508 shares during the period. GAMMA Investing LLC raised its position in shares of Bentley Systems by 90.1% during the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares during the period. Blue Trust Inc. grew its position in shares of Bentley Systems by 68,500.0% in the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after purchasing an additional 685 shares during the period. Tortoise Investment Management LLC grew its position in shares of Bentley Systems by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after purchasing an additional 358 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Bentley Systems during the 2nd quarter worth approximately $43,000. 44.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems 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 transaction, the director now owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the transaction, the director now directly owns 12,298,230 shares of the company’s stock, valued at $617,371,146. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction 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 transaction, the director now owns 16,598,656 shares in the company, valued at $820,471,566.08. The disclosure for this sale can be found here. Insiders own 21.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BSY shares. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group dropped their price target on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, 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. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and an average price target of $59.57.

Bentley Systems Trading Up 0.4 %

Bentley Systems stock opened at $50.84 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a 50-day moving average of $49.27 and a 200-day moving average of $50.59. The company has a market cap of $14.67 billion, a price-to-earnings ratio of 47.51, a P/E/G ratio of 4.19 and a beta of 1.03. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, beating 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 firm had revenue of $330.34 million during the quarter, compared to the consensus estimate of $325.20 million. During the same period last year, the company earned $0.20 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. Bentley Systems’s payout ratio is 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.