Assenagon Asset Management S.A. Takes Position in Bentley Systems, Incorporated $BSY

Key Points

• Assenagon Asset Management S.A. has acquired a new stake in Bentley Systems, purchasing 10,938 shares valued at approximately $590,000.
• Institutional investors now hold 44.16% of Bentley Systems’ stock, reflecting increased interest from multiple hedge funds.
• Bentley Systems has announced a quarterly dividend of $0.07 per share, with a dividend yield of 0.5%, to be paid on September 30th.

Assenagon Asset Management S.A. purchased a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,938 shares of the company's stock, valued at approximately $590,000.

Other hedge funds have also modified their holdings of the company. City Holding Co. bought a new stake in shares of Bentley Systems during the first quarter valued at approximately $26,000. Geneos Wealth Management Inc. boosted its stake in Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock valued at $26,000 after acquiring an additional 627 shares during the last quarter. Twin Tree Management LP boosted its stake in Bentley Systems by 361.9% in the first quarter. Twin Tree Management LP now owns 739 shares of the company's stock valued at $29,000 after acquiring an additional 579 shares during the last quarter. Larson Financial Group LLC boosted its stake in Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after acquiring an additional 717 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in Bentley Systems by 106.6% in the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock valued at $33,000 after acquiring an additional 435 shares during the last quarter. 44.16% of the stock is owned by institutional investors.

Bentley Systems Trading Up 0.5%

Shares of NASDAQ BSY opened at $52.35 on Friday. The company's fifty day moving average is $54.55 and its 200-day moving average is $49.62. The stock has a market cap of $15.29 billion, a price-to-earnings ratio of 66.27, a P/E/G ratio of 4.22 and a beta of 1.09. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $59.25. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The business had revenue of $364.11 million for the quarter, compared to analyst estimates of $363.51 million. During the same period last year, the business posted $0.31 earnings per share. The firm's quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 23rd. Bentley Systems's dividend payout ratio (DPR) is presently 35.44%.

Insiders Place Their Bets

In related news, insider David R. Shaman sold 19,348 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the sale, the insider directly owned 647,609 shares in the company, valued at $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the director owned 3,859,327 shares in the company, valued at approximately $214,347,021.58. The trade was a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,869 shares of company stock worth $10,564,887. 20.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BSY has been the topic of a number of recent research reports. KeyCorp raised their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Robert W. Baird set a $64.00 price objective on shares of Bentley Systems and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Oppenheimer raised their price objective on shares of Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Rosenblatt Securities cut shares of Bentley Systems from a "buy" rating to a "neutral" rating and raised their price objective for the company from $53.00 to $58.00 in a research note on Thursday, August 7th. Finally, Wall Street Zen cut shares of Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bentley Systems currently has an average rating of "Moderate Buy" and a consensus price target of $56.60.

Bentley Systems Company 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.

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