Bleakley Financial Group LLC Purchases 997 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Bleakley Financial Group LLC boosted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 22.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,519 shares of the company’s stock after acquiring an additional 997 shares during the period. Bleakley Financial Group LLC’s holdings in Bentley Systems were worth $288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BSY. Vanguard Group Inc. boosted its holdings in 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 in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Bentley Systems by 4.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock worth $677,987,000 after acquiring an additional 578,512 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Bentley Systems by 1.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 5,446,498 shares of the company’s stock worth $273,196,000 after acquiring an additional 100,207 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Bentley Systems by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 2,938,279 shares of the company’s stock worth $126,162,000 after acquiring an additional 84,869 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Bentley Systems by 6.5% in the 3rd quarter. Northern Trust Corp now owns 1,625,197 shares of the company’s stock worth $81,520,000 after acquiring an additional 99,319 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $47.55 on Tuesday. The firm has a fifty day moving average of $50.64 and a two-hundred day moving average of $50.79. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 48.03, a PEG ratio of 4.91 and a beta of 1.10. Bentley Systems, Incorporated has a 52 week low of $40.89 and a 52 week high of $55.37. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $310.64 million during the quarter, compared to analysts’ expectations of $313.67 million. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. As a group, equities research analysts predict that Bentley Systems, Incorporated will post 0.82 EPS for the current year.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were given a dividend of $0.06 per share. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.24 annualized dividend and a dividend yield of 0.50%. Bentley Systems’s payout ratio is presently 24.24%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the completion of the sale, the director now owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.53% of the company’s stock.

Wall Street Analysts Forecast Growth

BSY has been the topic of several recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $60.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. William Blair initiated coverage on Bentley Systems in a report on Thursday, March 28th. They issued an “outperform” rating on the stock. Rosenblatt Securities raised Bentley Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $60.00 in a report on Monday, February 26th. Finally, Robert W. Baird boosted their price objective on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.44.

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.