Cubist Systematic Strategies LLC Buys 5,346 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Cubist Systematic Strategies LLC increased its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 78.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,204 shares of the company's stock after acquiring an additional 5,346 shares during the period. Cubist Systematic Strategies LLC's holdings in Bentley Systems were worth $570,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in BSY. Swedbank AB raised its position in shares of Bentley Systems by 36.5% during the fourth quarter. Swedbank AB now owns 7,007,324 shares of the company's stock valued at $327,242,000 after buying an additional 1,873,029 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Bentley Systems by 0.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company's stock valued at $262,209,000 after buying an additional 24,019 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of Bentley Systems by 41.9% during the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company's stock worth $115,719,000 after buying an additional 736,369 shares during the period. AXA S.A. lifted its stake in Bentley Systems by 7.6% in the fourth quarter. AXA S.A. now owns 1,603,157 shares of the company's stock valued at $74,867,000 after buying an additional 112,824 shares during the period. Finally, Northern Trust Corp raised its holdings in Bentley Systems by 18.9% in the fourth quarter. Northern Trust Corp now owns 1,439,065 shares of the company's stock worth $67,204,000 after purchasing an additional 228,502 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Trading Down 0.4%

Shares of NASDAQ BSY traded down $0.21 during trading hours on Wednesday, hitting $47.85. The company's stock had a trading volume of 78,063 shares, compared to its average volume of 1,212,712. The stock has a market cap of $13.96 billion, a price-to-earnings ratio of 43.18, a P/E/G ratio of 3.52 and a beta of 1.05. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $57.19. The business has a 50-day simple moving average of $43.07 and a 200-day simple moving average of $45.52. 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 (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.05. The business had revenue of $370.54 million for the quarter, compared to analysts' expectations of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business's revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 earnings per share. On average, analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.59%. This is a positive change from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's payout ratio is presently 35.44%.

Insider Activity

In other news, CRO Brock Ballard sold 12,363 shares of Bentley Systems stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the sale, the executive now owns 68,064 shares in the company, valued at $3,068,325.12. This trade represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 20.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Rosenblatt Securities cut their price target on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. cut their price target on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. UBS Group raised their target price on shares of Bentley Systems from $48.00 to $53.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Royal Bank of Canada raised their price objective on Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group cut shares of Bentley Systems from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.00.

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.