Caitong International Asset Management Co. Ltd Takes Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Key Points

• Caitong International Asset Management acquired 8,480 shares of Bentley Systems, valued at approximately $334,000, marking significant investment interest in the company during the first quarter.
• Insider trading activity showed Director Raymond B. Bentley selling 355,103 shares for about $17.74 million, reducing his ownership but still maintaining a significant stake in the company.
• Bentley Systems reported earnings of $0.32 per share for the last quarter, surpassing analysts' expectations, and announced a quarterly dividend of $0.07, representing an annualized yield of 0.5%.

Caitong International Asset Management Co. Ltd bought a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,480 shares of the company's stock, valued at approximately $334,000.

Several other hedge funds also recently bought and sold shares of the company. City Holding Co. acquired a new stake in shares of Bentley Systems in the 1st quarter valued at $26,000. Larson Financial Group LLC increased its position in shares of Bentley Systems by 1,707.1% during the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after acquiring an additional 717 shares in the last quarter. Fifth Third Bancorp lifted its stake in Bentley Systems by 106.6% in the 1st quarter. Fifth Third Bancorp now owns 843 shares of the company's stock worth $33,000 after purchasing an additional 435 shares in the last quarter. HM Payson & Co. bought a new position in Bentley Systems in the 1st quarter worth about $45,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Bentley Systems by 99.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock valued at $56,000 after acquiring an additional 706 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bentley Systems

In related news, Director Raymond B. Bentley sold 355,103 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $49.96, for a total value of $17,740,945.88. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David R. Shaman sold 19,348 shares of Bentley Systems stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the transaction, the insider directly owned 647,609 shares in the company, valued at approximately $36,887,808.64. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,189,869 shares of company stock worth $60,880,388. 20.56% of the stock is currently owned by insiders.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $52.37 on Wednesday. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $54.24 and a 200 day moving average price of $47.76. The firm has a market capitalization of $15.30 billion, a PE ratio of 66.29, a price-to-earnings-growth ratio of 4.30 and a beta of 1.10.

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

Bentley Systems Announces Dividend

The firm also recently announced 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 0.5%. The ex-dividend date was Tuesday, June 3rd. Bentley Systems's dividend payout ratio is presently 35.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BSY shares. The Goldman Sachs Group increased their price objective on shares of Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research note on Thursday, August 7th. Robert W. Baird set a $64.00 target price on Bentley Systems and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada raised their price target on Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. KeyCorp boosted their price target on Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, Mizuho decreased their price target on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Bentley Systems currently has an average rating of "Hold" and an average target price of $56.60.

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.

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