Oak Thistle LLC Makes New $1.27 Million Investment in Bentley Systems, Incorporated (NASDAQ:BSY)

Oak Thistle LLC purchased a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,385 shares of the company's stock, valued at approximately $1,274,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC grew its stake in Bentley Systems by 3.6% in the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock valued at $340,000 after buying an additional 254 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Bentley Systems in the 4th quarter valued at approximately $2,363,000. LPL Financial LLC grew its stake in Bentley Systems by 0.5% in the 4th quarter. LPL Financial LLC now owns 330,954 shares of the company's stock valued at $15,456,000 after buying an additional 1,509 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Bentley Systems by 0.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 106,178 shares of the company's stock valued at $4,998,000 after buying an additional 713 shares in the last quarter. Finally, Montanaro Asset Management Ltd grew its stake in Bentley Systems by 12.6% in the 4th quarter. Montanaro Asset Management Ltd now owns 373,216 shares of the company's stock valued at $17,429,000 after buying an additional 41,800 shares in the last quarter. Institutional investors own 44.16% of the company's stock.

Bentley Systems Stock Performance

BSY stock traded up $0.24 on Friday, hitting $58.59. The company had a trading volume of 913,733 shares, compared to its average volume of 1,557,637. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $58.85. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13. The stock's 50-day simple moving average is $52.25 and its 200 day simple moving average is $46.92. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of 74.17, a P/E/G ratio of 4.76 and a beta of 1.09.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. The company had revenue of $370.54 million during the quarter, compared to analysts' expectations of $366.76 million. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. Bentley Systems's quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $0.31 earnings per share. As a group, equities research analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd were paid a $0.07 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.48%. Bentley Systems's payout ratio is currently 35.44%.

Wall Street Analysts Forecast Growth

BSY has been the subject of a number of research analyst reports. KeyCorp lifted their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Wall Street Zen downgraded shares of Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. Mizuho dropped their price objective on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Royal Bank Of Canada boosted their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, Oppenheimer increased their price target on shares of Bentley Systems from $50.00 to $59.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Bentley Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.20.

Insider Buying and Selling at Bentley Systems

In related news, CRO Brock Ballard sold 12,363 shares of the business's 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 completion of the transaction, the executive owned 68,064 shares in the company, valued at $3,068,325.12. The trade was a 15.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raymond B. Bentley sold 355,103 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $49.96, for a total transaction of $17,740,945.88. Following the completion of the sale, the director directly owned 15,992,321 shares in the company, valued at $798,976,357.16. This trade represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,201,832 shares of company stock valued at $61,414,013. Corporate insiders own 20.56% of the company's stock.

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.