Point72 Asia Singapore Pte. Ltd. Acquires New Shares in Bentley Systems, Incorporated (NASDAQ:BSY)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the 3rd quarter, Holdings Channel reports. The fund purchased 7,272 shares of the company’s stock, valued at approximately $369,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its position in shares of 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 purchasing an additional 508 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Bentley Systems by 90.1% in the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Bentley Systems during the 3rd quarter valued at $30,000. Blue Trust Inc. grew its holdings in Bentley Systems by 68,500.0% during 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. Finally, Central Pacific Bank Trust Division increased its holdings in Bentley Systems by 57.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after acquiring an additional 276 shares during the period. Institutional investors own 44.16% of the company’s stock.

Insiders Place Their Bets

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the business’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 trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 234,987 shares of company stock worth $11,667,821. 21.12% of the stock is owned by corporate insiders.

Bentley Systems Stock Up 0.9 %

Bentley Systems stock opened at $49.97 on Tuesday. The firm has a market cap of $14.53 billion, a P/E ratio of 45.04, a P/E/G ratio of 4.23 and a beta of 1.04. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The business has a fifty day moving average of $49.23 and a two-hundred day moving average of $49.75. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. The firm had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. Bentley Systems’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. On average, analysts forecast 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. Shareholders of record on Tuesday, December 3rd will be given a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. Bentley Systems’s dividend payout ratio (DPR) is currently 21.62%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BSY. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Piper Sandler raised their price objective on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.50.

Bentley Systems 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.