Bentley Systems, Incorporated (NASDAQ:BSY) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC increased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,003 shares of the company’s stock after purchasing an additional 3,122 shares during the period. Townsquare Capital LLC’s holdings in Bentley Systems were worth $5,030,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB raised its position in 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 purchasing an additional 3,461,500 shares during the period. Impax Asset Management Group plc acquired a new stake in shares of Bentley Systems during the 3rd quarter worth about $88,771,000. Fiera Capital Corp purchased a new stake in Bentley Systems in the 3rd quarter valued at about $42,773,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in Bentley Systems by 3.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock valued at $778,832,000 after buying an additional 586,458 shares during the last quarter. Finally, Creative Planning lifted its position in Bentley Systems by 67.9% in the second quarter. Creative Planning now owns 1,091,058 shares of the company’s stock valued at $53,855,000 after buying an additional 441,316 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BSY has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Friday, November 8th. Piper Sandler increased their price target on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. The Goldman Sachs Group reduced their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Bentley Systems Stock Performance

Shares of BSY stock opened at $49.18 on Friday. The stock’s 50-day moving average is $49.24 and its two-hundred day moving average is $49.87. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 44.31, a PEG ratio of 4.24 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The firm 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%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. Analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

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

Insider Activity 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 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 trade was a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Barry J. Bentley sold 34,987 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $48.37, for a total value of $1,692,321.19. Following the sale, the director now directly owns 12,213,248 shares of the company’s stock, valued at approximately $590,754,805.76. This represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock worth $16,168,176 in the last 90 days. 21.12% of the stock is owned by insiders.

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.