Bentley Systems, Incorporated (NASDAQ:BSY) Shares Acquired by Swedbank AB

Swedbank AB increased its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 36.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 7,007,324 shares of the company’s stock after acquiring an additional 1,873,029 shares during the period. Swedbank AB owned approximately 2.41% of Bentley Systems worth $327,242,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Prentiss Smith & Co. Inc. bought a new position in shares of Bentley Systems during the 4th quarter worth approximately $2,982,000. Pacer Advisors Inc. boosted its holdings in shares of Bentley Systems by 117.5% during the 4th quarter. Pacer Advisors Inc. now owns 53,778 shares of the company’s stock worth $2,511,000 after buying an additional 29,053 shares during the period. SG Americas Securities LLC raised its position in shares of Bentley Systems by 147.2% in the 4th quarter. SG Americas Securities LLC now owns 69,904 shares of the company’s stock valued at $3,265,000 after buying an additional 41,625 shares in the last quarter. Clear Harbor Asset Management LLC grew its position in Bentley Systems by 160.8% during the 4th quarter. Clear Harbor Asset Management LLC now owns 39,991 shares of the company’s stock worth $1,868,000 after acquiring an additional 24,656 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its position in shares of Bentley Systems by 13.5% during the fourth quarter. Diversify Wealth Management LLC now owns 22,920 shares of the company’s stock worth $1,051,000 after acquiring an additional 2,728 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Friday, November 8th. Piper Sandler reduced their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. started coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 target price for the company. Two investment analysts have 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, the company has an average rating of “Moderate Buy” and a consensus target price of $57.29.

Bentley Systems Stock Down 1.3 %

BSY traded down $0.63 on Wednesday, reaching $45.95. The company’s stock had a trading volume of 24,358 shares, compared to its average volume of 1,161,818. The company has a market capitalization of $13.36 billion, a price-to-earnings ratio of 41.39, a P/E/G ratio of 3.48 and a beta of 1.04. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The stock has a 50 day moving average of $47.56 and a two-hundred day moving average of $48.64. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

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

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is presently 21.62%.

Insider Buying and Selling

In other news, Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the transaction, the director now directly owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. This trade represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.