Quest Partners LLC Invests $221,000 in Bentley Systems, Incorporated (NASDAQ:BSY)

Quest Partners LLC bought a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,344 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in Bentley Systems by 4,618.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after purchasing an additional 508 shares during the last quarter. GAMMA Investing LLC increased its holdings in Bentley Systems by 90.1% in the second 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. Blue Trust Inc. increased its holdings in shares of Bentley Systems by 68,500.0% in the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after acquiring an additional 685 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after acquiring an additional 276 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its holdings in shares of Bentley Systems by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after acquiring an additional 358 shares in the last quarter. Institutional investors own 44.16% of the company’s stock.

Insider Transactions at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. This represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the director now directly owns 12,298,230 shares of the company’s stock, valued at $617,371,146. This trade represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock valued at $16,168,176 over the last three months. Company insiders own 21.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Piper Sandler increased their price target on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. The Goldman Sachs Group lowered their price target on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Bentley Systems Stock Down 0.1 %

BSY stock opened at $49.18 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market capitalization of $14.30 billion, a P/E ratio of 44.31, a P/E/G ratio of 4.24 and a beta of 1.04. The business has a 50-day moving average of $49.27 and a 200-day moving average of $49.87. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $335.17 million during the quarter, compared to analysts’ expectations of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. Bentley Systems’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. On average, sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. Bentley Systems’s dividend payout ratio is currently 21.62%.

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.