Copeland Capital Management LLC Grows Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Copeland Capital Management LLC raised its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 60.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 683,962 shares of the company’s stock after buying an additional 258,992 shares during the period. Copeland Capital Management LLC owned approximately 0.24% of Bentley Systems worth $34,752,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake 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 valued at $26,000 after acquiring an additional 508 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Bentley Systems by 90.1% during the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares during the last quarter. Blue Trust Inc. grew its stake in 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 purchasing an additional 685 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after buying an additional 276 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its stake in Bentley Systems by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after buying an additional 358 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BSY. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. The Goldman Sachs Group lowered their target price on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research report on Monday, September 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $63.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and an average target price of $59.57.

Bentley Systems Stock Performance

Shares of BSY opened at $49.53 on Tuesday. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19. The firm has a market capitalization of $14.29 billion, a PE ratio of 46.29, a P/E/G ratio of 4.09 and a beta of 1.03. The firm has a 50-day moving average price of $49.81 and a 200 day moving average price of $50.51. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. The business had revenue of $330.34 million for the quarter, compared to analyst estimates 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 for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business earned $0.20 earnings per share. On average, sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Tuesday, September 17th. Bentley Systems’s payout ratio is currently 22.43%.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the transaction, the director now owns 12,298,230 shares in the company, valued at approximately $617,371,146. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Barry J. Bentley sold 34,987 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the completion of the sale, the director now directly owns 12,213,248 shares of the company’s stock, valued at $590,754,805.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 12,298,230 shares of the company’s stock, valued at $617,371,146. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,032 shares of company stock worth $11,248,676. 21.12% of the stock is owned by corporate insiders.

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.