Bessemer Group Inc. Purchases 1,883,185 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Bessemer Group Inc. raised its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 8,187,760.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,883,208 shares of the company's stock after purchasing an additional 1,883,185 shares during the period. Bessemer Group Inc. owned approximately 0.65% of Bentley Systems worth $74,086,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. City Holding Co. purchased a new position in shares of Bentley Systems in the first quarter worth about $26,000. Fifth Third Bancorp increased its holdings in shares of Bentley Systems by 106.6% in the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock worth $33,000 after buying an additional 435 shares during the period. Private Trust Co. NA increased its holdings in shares of Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company's stock worth $47,000 after buying an additional 378 shares during the period. Atala Financial Inc purchased a new position in Bentley Systems during the 4th quarter valued at about $55,000. Finally, Ameriflex Group Inc. purchased a new position in Bentley Systems during the 4th quarter valued at about $75,000. Hedge funds and other institutional investors own 44.16% of the company's stock.

Bentley Systems Stock Up 0.0%

Shares of BSY traded up $0.01 during mid-day trading on Friday, reaching $52.64. The company had a trading volume of 2,745,766 shares, compared to its average volume of 1,220,821. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a 50-day moving average price of $47.55 and a 200 day moving average price of $45.61. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $53.29. The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of 66.63, a price-to-earnings-growth ratio of 4.42 and a beta of 1.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.05. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The company had revenue of $370.54 million during the quarter, compared to analyst estimates of $366.76 million. During the same period in the previous year, the business earned $0.31 EPS. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.53%. Bentley Systems's payout ratio is currently 35.44%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BSY shares. JPMorgan Chase & Co. reduced their price target on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Royal Bank Of Canada lifted their price objective on Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Rosenblatt Securities cut their price objective on Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. KeyCorp lifted their price objective on Bentley Systems from $54.00 to $56.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, UBS Group lifted their price objective on Bentley Systems from $48.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $52.00.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the completion of the sale, the executive now directly owns 68,064 shares in the company, valued at approximately $3,068,325.12. The trade was a 15.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond B. Bentley sold 273,094 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $50.30, for a total transaction of $13,736,628.20. Following the sale, the director now owns 15,719,227 shares of the company's stock, valued at approximately $790,677,118.10. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,012,363 shares of company stock worth $50,872,826. Insiders own 20.56% of the company's stock.

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.