Asahi Life Asset Management CO. LTD. acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,900 shares of the company's stock, valued at approximately $271,000.
Other large investors have also recently added to or reduced their stakes in the company. City Holding Co. acquired a new position in Bentley Systems during the first quarter worth $26,000. Fifth Third Bancorp lifted its stake in Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock worth $33,000 after purchasing an additional 435 shares in the last quarter. HM Payson & Co. acquired a new position in Bentley Systems during the first quarter worth $45,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Bentley Systems by 99.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock worth $56,000 after purchasing an additional 706 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new position in Bentley Systems during the fourth quarter worth $75,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
BSY has been the topic of a number of research reports. Mizuho decreased their price target on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Rosenblatt Securities decreased their price target on Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. JPMorgan Chase & Co. decreased their price target on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Wall Street Zen cut Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, KeyCorp upped their price target on Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.20.
View Our Latest Research Report on BSY
Insiders Place Their Bets
In related news, insider David R. Shaman sold 19,348 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $56.96, for a total value of $1,102,062.08. Following the transaction, the insider owned 647,609 shares of the company's stock, valued at $36,887,808.64. This represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Brock Ballard sold 12,363 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total value of $557,324.04. Following the completion of the transaction, the executive directly owned 68,064 shares in the company, valued at $3,068,325.12. This trade represents a 15.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,201,832 shares of company stock worth $61,414,013. 20.56% of the stock is owned by corporate insiders.
Bentley Systems Stock Up 0.3%
Shares of BSY traded up $0.16 during midday trading on Friday, reaching $57.74. The stock had a trading volume of 858,530 shares, compared to its average volume of 1,269,681. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $57.97. The company's fifty day simple moving average is $50.99 and its two-hundred day simple moving average is $46.45. The company has a market cap of $16.85 billion, a price-to-earnings ratio of 73.07, a PEG ratio of 4.68 and a beta of 1.09. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49.
Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. The firm had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. Bentley Systems's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. Equities research analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.
Bentley Systems Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems's dividend payout ratio (DPR) is presently 35.44%.
About Bentley Systems
(
Free Report)
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.
Further Reading
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