Bright Rock Capital Management LLC Buys Shares of 50,000 Bentley Systems, Incorporated (NASDAQ:BSY)

Bright Rock Capital Management LLC purchased a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 50,000 shares of the company's stock, valued at approximately $1,967,000.

Other large investors have also added to or reduced their stakes in the company. City Holding Co. bought a new position in Bentley Systems during the 1st quarter worth $26,000. Fifth Third Bancorp increased its position in Bentley Systems by 106.6% during the 1st 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 position in Bentley Systems by 61.1% during the 4th 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 bought a new position in Bentley Systems during the 4th quarter worth $55,000. Finally, Ameriflex Group Inc. bought a new position in Bentley Systems during the 4th quarter worth $75,000. Institutional investors own 44.16% of the company's stock.

Bentley Systems Price Performance

NASDAQ:BSY traded up $0.68 during trading hours on Monday, hitting $50.02. The company's stock had a trading volume of 2,316,325 shares, compared to its average volume of 1,226,301. The stock has a fifty day simple moving average of $45.92 and a 200-day simple moving average of $45.45. The company has a market capitalization of $14.60 billion, a P/E ratio of 45.06, a PEG ratio of 3.52 and a beta of 1.07. 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, Incorporated has a twelve month low of $36.51 and a twelve month high of $52.12.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. The business had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. Bentley Systems's revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. On average, analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems's dividend payout ratio (DPR) is presently 35.44%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BSY shares. Mizuho lowered their price objective on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Oppenheimer increased their price objective on Bentley Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. UBS Group increased their target price on Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Royal Bank of Canada increased their target price on Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group lowered Bentley Systems from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $51.00 to $42.00 in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.00.

Insider Activity at Bentley Systems

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the completion of the transaction, the executive now directly owns 68,064 shares in the company, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.56% of the stock is currently owned by 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.