International Assets Investment Management LLC Takes Position in Bentley Systems, Incorporated (NASDAQ:BSY)

International Assets Investment Management LLC bought a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 122,310 shares of the company’s stock, valued at approximately $6,382,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its holdings in Bentley Systems by 223.4% during the 3rd quarter. California Public Employees Retirement System now owns 1,045,289 shares of the company’s stock valued at $52,432,000 after buying an additional 722,046 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in 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 valued at $677,987,000 after acquiring an additional 578,512 shares during the last quarter. Vanguard Group Inc. increased its holdings in Bentley Systems by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after acquiring an additional 556,363 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Bentley Systems by 43.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,089,629 shares of the company’s stock valued at $54,656,000 after acquiring an additional 327,577 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Bentley Systems by 13.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,734 shares of the company’s stock valued at $70,311,000 after acquiring an additional 170,581 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on BSY shares. Rosenblatt Securities reiterated a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a report on Tuesday, April 30th. Robert W. Baird lifted their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. William Blair started coverage on shares of Bentley Systems in a report on Thursday, March 28th. They issued an “outperform” rating on the stock. 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, February 28th. Finally, Piper Sandler restated an “overweight” rating and issued a $60.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.44.

Bentley Systems Price Performance

BSY stock opened at $54.93 on Wednesday. Bentley Systems, Incorporated has a 12 month low of $41.59 and a 12 month high of $55.37. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72. The company has a 50-day moving average price of $50.83 and a 200 day moving average price of $50.85. The stock has a market cap of $15.70 billion, a PE ratio of 55.48, a P/E/G ratio of 5.36 and a beta of 1.08.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The firm had revenue of $310.64 million during the quarter, compared to analysts’ expectations of $313.67 million. During the same period in the previous year, the company earned $0.13 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Bentley Systems, Incorporated will post 0.82 earnings per share for the current year.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.44%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 19th. Bentley Systems’s payout ratio is 24.24%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $49.48, for a total value of $4,400,009.00. Following the completion of the sale, the director now directly owns 17,164,179 shares of the company’s stock, valued at approximately $849,283,576.92. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Keith A. Bentley sold 88,925 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith A. Bentley sold 17,021 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The disclosure for this sale can be found here. 21.12% of the stock is owned by corporate insiders.

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.