Norden Group LLC Makes New Investment in Bentley Systems, Incorporated (NASDAQ:BSY)

Norden Group LLC acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 60,018 shares of the company’s stock, valued at approximately $3,134,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA boosted its stake in Bentley Systems by 87.3% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after acquiring an additional 254 shares during the last quarter. MJP Associates Inc. ADV boosted its stake in Bentley Systems by 3.9% in the fourth quarter. MJP Associates Inc. ADV now owns 7,346 shares of the company’s stock valued at $383,000 after acquiring an additional 277 shares during the last quarter. Portside Wealth Group LLC boosted its stake in Bentley Systems by 2.8% in the fourth quarter. Portside Wealth Group LLC now owns 11,412 shares of the company’s stock valued at $595,000 after acquiring an additional 308 shares during the last quarter. Dfpg Investments LLC boosted its stake in Bentley Systems by 2.0% in the fourth quarter. Dfpg Investments LLC now owns 17,821 shares of the company’s stock valued at $930,000 after acquiring an additional 341 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Bentley Systems by 97.4% during the 4th quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock valued at $39,000 after buying an additional 371 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Mizuho upped their price target on shares of Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Piper Sandler restated an “overweight” rating and set a $63.00 price target (up from $60.00) on shares of Bentley Systems in a research note on Wednesday, May 8th. Rosenblatt Securities restated a “buy” rating and set a $60.00 price target on shares of Bentley Systems in a research note on Tuesday, April 30th. Finally, William Blair began coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.29.

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $49.46 on Friday. The company’s fifty day moving average price is $52.15 and its 200-day moving average price is $51.16. The firm has a market capitalization of $14.27 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 4.35 and a beta of 1.03. Bentley Systems, Incorporated has a one year low of $44.76 and a one year high of $57.19. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.57 and a quick ratio of 0.57.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $337.76 million for the quarter, compared to analyst estimates of $335.00 million. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. On average, equities research analysts anticipate that Bentley Systems, Incorporated will post 0.85 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, June 4th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Tuesday, June 4th. Bentley Systems’s payout ratio is 22.43%.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 118,949 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total transaction of $6,543,384.49. Following the transaction, the director now owns 17,031,803 shares of the company’s stock, valued at approximately $936,919,483.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Keith A. Bentley sold 118,949 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total transaction of $6,543,384.49. Following the transaction, the director now owns 17,031,803 shares of the company’s stock, valued at approximately $936,919,483.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Keith A. Bentley sold 17,021 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now directly owns 17,150,752 shares in the company, valued at approximately $943,291,360. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,390 shares of company stock valued at $10,748,234. Insiders own 21.12% of the company’s stock.

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.