Vanguard Group Inc. Purchases 898,115 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Vanguard Group Inc. boosted its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,999,856 shares of the company's stock after purchasing an additional 898,115 shares during the period. Vanguard Group Inc. owned about 5.94% of Bentley Systems worth $708,114,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. City Holding Co. acquired a new stake in Bentley Systems in the first quarter valued at $26,000. Larson Financial Group LLC increased its holdings 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 purchasing an additional 717 shares during the period. Fifth Third Bancorp increased its holdings 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 purchasing an additional 435 shares during the period. HM Payson & Co. acquired a new stake in Bentley Systems during the 1st quarter worth about $45,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Bentley Systems by 99.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock worth $56,000 after acquiring an additional 706 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bentley Systems

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

Bentley Systems Stock Up 2.7%

Shares of BSY stock traded up $1.42 on Friday, reaching $53.14. 1,782,432 shares of the company were exchanged, compared to its average volume of 1,640,665. The company has a market cap of $15.52 billion, a price-to-earnings ratio of 67.27, a PEG ratio of 4.32 and a beta of 1.10. The company has a 50-day moving average of $54.43 and a 200-day moving average of $47.88. 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, Incorporated has a one year low of $36.51 and a one year high of $59.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share (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 company had revenue of $364.11 million for the quarter, compared to analysts' expectations of $363.51 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The business's revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have weighed in on BSY. Robert W. Baird set a $64.00 price target on Bentley Systems and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Piper Sandler increased their price target on Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Rosenblatt Securities downgraded Bentley Systems from a "buy" rating to a "neutral" rating and increased their price target for the stock from $53.00 to $58.00 in a report on Thursday, August 7th. Royal Bank Of Canada increased their price target on Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, KeyCorp increased their price target on Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $56.60.

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.