Ecofi Investissements SA Takes Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Ecofi Investissements SA acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 92,200 shares of the company’s stock, valued at approximately $4,227,000. Bentley Systems accounts for approximately 2.3% of Ecofi Investissements SA’s portfolio, making the stock its 19th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position 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 acquiring an additional 508 shares during the period. GAMMA Investing LLC grew 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 buying an additional 273 shares in the last quarter. Blue Trust Inc. grew its position in 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 buying an additional 685 shares in the last quarter. Tortoise Investment Management LLC increased its stake in Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after buying an additional 358 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Bentley Systems during the 2nd quarter worth about $43,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $50.84 on Monday. Bentley Systems, Incorporated has a 12 month low of $43.82 and a 12 month high of $57.19. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. The company has a market cap of $14.67 billion, a P/E ratio of 47.51, a P/E/G ratio of 4.19 and a beta of 1.03. The business’s 50 day moving average is $49.27 and its two-hundred day moving average is $50.60.

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

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is currently 22.43%.

Insider Activity

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the transaction, the director now owns 12,298,230 shares of the company’s stock, valued at approximately $617,371,146. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Barry J. Bentley sold 50,000 shares of the 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 sale, the director now directly owns 12,298,230 shares in the company, valued at approximately $617,371,146. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following 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. 21.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BSY. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Monday, September 16th. The Goldman Sachs Group cut their price objective on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.57.

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.