Allianz Asset Management GmbH Purchases Shares of 10,800 Bentley Systems, Incorporated (NASDAQ:BSY)

Key Points

• Allianz Asset Management GmbH has acquired 10,800 shares of Bentley Systems, valued at approximately $425,000, while other hedge funds are also increasing their stakes in the company.
• Bentley Systems reported earnings of $0.35 per share, exceeding analysts' expectations of $0.30, alongside revenue of $370.54 million for the latest quarter.
• The company has announced a quarterly dividend of $0.07 per share, yielding approximately 0.5%, with a payout ratio of 35.44%.

Allianz Asset Management GmbH purchased a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,800 shares of the company's stock, valued at approximately $425,000.

Other large investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its stake in Bentley Systems by 8,187,760.9% in the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after acquiring an additional 1,883,185 shares during the last quarter. Sone Capital Management LLC bought a new stake in Bentley Systems in the 4th quarter worth $17,884,000. SG Americas Securities LLC lifted its position in shares of Bentley Systems by 449.7% in the 1st quarter. SG Americas Securities LLC now owns 384,291 shares of the company's stock worth $15,118,000 after purchasing an additional 314,387 shares during the period. BLI Banque de Luxembourg Investments purchased a new position in Bentley Systems during the 4th quarter valued at about $14,929,000. Finally, Edgestream Partners L.P. purchased a new position in Bentley Systems during the 1st quarter valued at about $10,150,000. Institutional investors and hedge funds own 44.16% of the company's stock.

Bentley Systems Stock Performance

Shares of NASDAQ:BSY traded down $1.97 during trading on Wednesday, reaching $55.08. 1,516,694 shares of the stock were exchanged, compared to its average volume of 1,516,768. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $59.25. The firm has a market cap of $16.08 billion, a PE ratio of 69.96, a PEG ratio of 4.71 and a beta of 1.10. The stock has a 50-day moving average price of $53.67 and a 200-day moving average price of $47.50. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13.

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

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems's dividend payout ratio (DPR) is currently 35.44%.

Analysts Set New Price Targets

A number of research firms have weighed in on BSY. Royal Bank Of Canada boosted their price objective 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. Mizuho lowered their price target on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Oppenheimer raised their price target on Bentley Systems from $50.00 to $59.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen lowered Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Bentley Systems currently has a consensus rating of "Moderate Buy" and an average price target of $53.70.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 150,000 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the completion of the transaction, the director directly owned 3,859,327 shares of the company's stock, valued at $214,347,021.58. This trade represents a 3.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raymond B. Bentley sold 355,103 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.96, for a total value of $17,740,945.88. Following the sale, the director owned 15,992,321 shares of the company's stock, valued at approximately $798,976,357.16. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,189,869 shares of company stock valued at $60,880,388 in the last three months. Insiders own 20.56% of the company's stock.

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.