DekaBank Deutsche Girozentrale Raises Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

DekaBank Deutsche Girozentrale raised its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 543,564 shares of the company’s stock after purchasing an additional 2,923 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Bentley Systems were worth $26,799,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Bentley Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock valued at $1,162,002,000 after buying an additional 134,516 shares in the last quarter. Swedbank AB lifted its position in shares of Bentley Systems by 514.5% in the second quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock valued at $204,069,000 after acquiring an additional 3,461,500 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Bentley Systems by 2.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,113,400 shares of the company’s stock worth $58,097,000 after acquiring an additional 23,771 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Bentley Systems by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 589,191 shares of the company’s stock worth $30,748,000 after purchasing an additional 11,923 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its stake in Bentley Systems by 22.9% in the 2nd quarter. Mizuho Markets Americas LLC now owns 520,684 shares of the company’s stock valued at $25,701,000 after purchasing an additional 97,000 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BSY shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group lowered their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Piper Sandler restated an “overweight” rating and set a $63.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.57.

Bentley Systems Price Performance

Shares of BSY stock opened at $49.57 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 company has a market capitalization of $14.30 billion, a PE ratio of 46.33, a price-to-earnings-growth ratio of 4.08 and a beta of 1.03. The firm’s 50-day moving average is $49.03 and its two-hundred day moving average is $50.56. Bentley Systems, Incorporated has a 12 month low of $43.82 and a 12 month high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The firm had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. During the same quarter in the previous year, the company earned $0.20 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts predict that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Announces Dividend

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

Insider Transactions at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the business’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 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 21.12% of the company’s stock.

Bentley Systems Company Profile

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.