Nissay Asset Management Corp Japan ADV Has $2.92 Million Stock Position in Bentley Systems, Incorporated $BSY

Nissay Asset Management Corp Japan ADV grew its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 9.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 74,328 shares of the company's stock after acquiring an additional 6,170 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Bentley Systems were worth $2,924,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BSY. City Holding Co. bought a new position in shares of Bentley Systems during the first quarter valued at $26,000. Twin Tree Management LP raised its stake in shares of Bentley Systems by 361.9% during 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 raised its stake in shares of Bentley Systems by 1,707.1% during 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. Fifth Third Bancorp raised its stake in shares of Bentley Systems by 106.6% during 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. Finally, HM Payson & Co. bought a new position in shares of Bentley Systems during the first quarter valued at $45,000. Institutional investors own 44.16% of the company's stock.

Bentley Systems Trading Down 1.0%

NASDAQ BSY traded down $0.52 during mid-day trading on Friday, reaching $52.94. 862,542 shares of the stock were exchanged, compared to its average volume of 1,502,309. Bentley Systems, Incorporated has a one year low of $36.51 and a one year high of $59.25. The stock has a 50 day simple moving average of $55.38 and a 200-day simple moving average of $48.93. The stock has a market cap of $15.46 billion, a P/E ratio of 67.01, a P/E/G ratio of 4.31 and a beta of 1.09. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51.

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

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. Bentley Systems's payout ratio is 35.44%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. The Goldman Sachs Group raised their price target on shares of Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Rosenblatt Securities downgraded shares of Bentley Systems from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $53.00 to $58.00 in a research note on Thursday, August 7th. Finally, Piper Sandler lifted their target price on shares of Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.60.

Insiders Place Their Bets

In other Bentley Systems news, Director Raymond B. Bentley sold 122,114 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $50.70, for a total value of $6,191,179.80. Following the completion of the sale, the director directly owned 15,347,424 shares in the company, valued at approximately $778,114,396.80. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 completion of the sale, the director owned 3,859,327 shares of the company's stock, valued at $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 ninety days, insiders sold 1,189,869 shares of company stock worth $60,880,388. 20.56% of the stock is currently owned by company insiders.

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.