Swedbank AB Decreases Stock Position in Bentley Systems, Incorporated $BSY

Key Points

• Swedbank AB has reduced its stake in Bentley Systems by 0.4%, now holding over 7 million shares valued at approximately $382 million.
• Several analysts have increased their price targets for Bentley Systems, with Piper Sandler raising it to $63.00 and Oppenheimer to $65.00, reflecting a generally positive outlook on the stock.
• Bentley Systems recently announced a $0.07 quarterly dividend, representing a 0.5% yield, with the payout ratio at 35.44%.

Swedbank AB lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,089,901 shares of the company's stock after selling 29,307 shares during the period. Swedbank AB owned about 2.43% of Bentley Systems worth $382,642,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BSY. City Holding Co. purchased a new position in Bentley Systems during the 1st quarter valued at about $26,000. Geneos Wealth Management Inc. increased its holdings in Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock valued at $26,000 after purchasing an additional 627 shares during the period. Twin Tree Management LP increased its holdings in Bentley Systems by 361.9% during the 1st quarter. Twin Tree Management LP now owns 739 shares of the company's stock valued at $29,000 after purchasing an additional 579 shares during the period. Larson Financial Group LLC increased its holdings in Bentley Systems by 1,707.1% during the 1st quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after purchasing an additional 717 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Bentley Systems by 106.6% during the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company's stock valued at $33,000 after purchasing an additional 435 shares during the period. Hedge funds and other institutional investors own 44.16% of the company's stock.

Insider Buying and Selling

In other news, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction that occurred 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 sale, the insider directly owned 647,609 shares of the company's stock, valued at $36,887,808.64. The trade was a 2.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Keith A. Bentley sold 150,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $55.54, for a total value of $8,331,000.00. Following the completion of the sale, the director directly owned 3,859,327 shares in the company, valued at approximately $214,347,021.58. This represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,869 shares of company stock worth $10,564,887. Insiders own 20.56% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BSY shares. Rosenblatt Securities downgraded Bentley Systems from a "buy" rating to a "neutral" rating and boosted their price target for the company from $53.00 to $58.00 in a report on Thursday, August 7th. The Goldman Sachs Group lifted their price objective on Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research report on Thursday, August 7th. UBS Group lifted their price objective on Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. KeyCorp lifted their price objective on Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Piper Sandler lifted their price objective on Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Bentley Systems currently has a consensus rating of "Moderate Buy" and an average price target of $56.60.

Bentley Systems Stock Down 0.2%

Shares of BSY traded down $0.13 during mid-day trading on Friday, reaching $52.82. The company had a trading volume of 2,880,117 shares, compared to its average volume of 1,424,137. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a 50-day moving average price of $55.04 and a 200 day moving average price of $49.21. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 66.86, a price-to-earnings-growth ratio of 4.27 and a beta of 1.09.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued 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. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The firm had revenue of $364.11 million for the quarter, compared to analysts' expectations of $363.51 million. During the same period in the previous year, the firm posted $0.31 EPS. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast 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. Stockholders of record on Tuesday, September 23rd will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 23rd. Bentley Systems's payout ratio is currently 35.44%.

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.