Bright Rock Capital Management LLC Makes New Investment in Bentley Systems, Incorporated (NASDAQ:BSY)

Bright Rock Capital Management LLC acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 50,000 shares of the company's stock, valued at approximately $1,967,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. City Holding Co. bought a new stake in Bentley Systems in the first quarter worth $26,000. Fifth Third Bancorp boosted 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 purchasing an additional 435 shares during the period. Private Trust Co. NA grew 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 purchasing an additional 378 shares during the last quarter. Atala Financial Inc purchased a new position in shares of Bentley Systems in the fourth quarter worth $55,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Bentley Systems in the fourth quarter worth $75,000. Institutional investors own 44.16% of the company's stock.

Bentley Systems Price Performance

Shares of NASDAQ:BSY traded up $0.16 during trading on Friday, hitting $49.34. 1,252,376 shares of the company's stock were exchanged, compared to its average volume of 1,222,269. The business's 50-day simple moving average is $45.48 and its 200 day simple moving average is $45.50. The company has a market cap of $14.40 billion, a price-to-earnings ratio of 44.45, a PEG ratio of 3.52 and a beta of 1.07. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $52.12. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.05. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business had revenue of $370.54 million during the quarter, compared to analyst estimates of $366.76 million. During the same period last year, the firm posted $0.31 EPS. The company's revenue was up 9.7% on a year-over-year basis. As a group, equities analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems's payout ratio is 35.44%.

Analysts Set New Price Targets

Several analysts recently issued reports on BSY shares. Royal Bank of Canada raised their target price on Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. reduced their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group cut shares of Bentley Systems from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Rosenblatt Securities reduced their price target on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, UBS Group increased their price target on shares of Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.00.

Insider Buying and Selling

In related news, CRO Brock Ballard sold 12,363 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total value of $557,324.04. Following the transaction, the executive now owns 68,064 shares of the company's stock, valued at $3,068,325.12. This trade represents a 15.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 20.56% of the stock is owned by corporate insiders.

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.