Bentley Systems, Incorporated (NASDAQ:BSY) Holdings Decreased by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning reduced its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 34.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,486 shares of the company’s stock after selling 2,849 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Bentley Systems were worth $286,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of Bentley Systems in the fourth quarter valued at $6,382,000. Handelsbanken Fonder AB lifted its holdings in shares of Bentley Systems by 5.0% during the fourth quarter. Handelsbanken Fonder AB now owns 793,900 shares of the company’s stock valued at $41,426,000 after purchasing an additional 38,120 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Bentley Systems by 2.8% during the fourth quarter. Raymond James & Associates now owns 1,119,244 shares of the company’s stock valued at $58,402,000 after purchasing an additional 30,143 shares during the last quarter. Bridgewater Associates LP lifted its holdings in shares of Bentley Systems by 10.5% during the fourth quarter. Bridgewater Associates LP now owns 325,786 shares of the company’s stock valued at $17,000,000 after purchasing an additional 30,982 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Bentley Systems by 2.6% during the third quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after purchasing an additional 556,363 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Trading Up 0.1 %

Shares of NASDAQ BSY traded up $0.07 during midday trading on Wednesday, hitting $49.32. The stock had a trading volume of 15,842 shares, compared to its average volume of 1,402,179. The company’s 50-day simple moving average is $52.34 and its 200 day simple moving average is $51.19. The firm has a market cap of $14.23 billion, a P/E ratio of 46.03, a price-to-earnings-growth ratio of 4.36 and a beta of 1.03. Bentley Systems, Incorporated has a fifty-two week low of $44.76 and a fifty-two week 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 announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. The business had revenue of $337.76 million during the quarter, compared to analysts’ expectations of $335.00 million. Research analysts anticipate that Bentley Systems, Incorporated will post 0.85 EPS for the current year.

Bentley Systems Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the sale, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of Bentley Systems stock in a transaction dated Tuesday, April 23rd. The stock was 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 $943,291,360. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Keith A. Bentley sold 59,420 shares of Bentley Systems stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $55.01, for a total value of $3,268,694.20. Following the transaction, the director now owns 16,972,383 shares in the company, valued at $933,650,788.83. The disclosure for this sale can be found here. Insiders sold a total of 195,390 shares of company stock valued at $10,748,234 over the last three months. 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.