25,572 Shares in Bentley Systems, Incorporated $BSY Purchased by Caxton Associates LLP

Key Points

• Caxton Associates LLP has acquired 25,572 shares of Bentley Systems, valued at approximately $1,006,000, indicating a growing interest among institutional investors in the company.
• Bentley Systems reported a quarterly earnings per share of $0.32, surpassing analysts' expectations, and experienced a 10.2% increase in revenue compared to the previous year.
• Several analysts have raised their price targets for Bentley Systems, with values now ranging from $60 to $65, reflecting a positive outlook for the company's stock performance.

Caxton Associates LLP acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 25,572 shares of the company's stock, valued at approximately $1,006,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. City Holding Co. purchased a new position in shares of Bentley Systems during the 1st quarter valued at approximately $26,000. Twin Tree Management LP raised its position in Bentley Systems by 361.9% during the first quarter. Twin Tree Management LP now owns 739 shares of the company's stock worth $29,000 after acquiring an additional 579 shares during the period. Larson Financial Group LLC lifted its holdings in 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 purchasing an additional 717 shares in the last quarter. Fifth Third Bancorp lifted its holdings in 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 in the last quarter. Finally, HM Payson & Co. acquired a new stake in shares of Bentley Systems in the first quarter valued at about $45,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BSY shares. Rosenblatt Securities downgraded shares of Bentley Systems from a "buy" rating to a "neutral" rating and upped their price target for the stock from $53.00 to $58.00 in a research report on Thursday, August 7th. The Goldman Sachs Group raised their target price on Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research report on Thursday, August 7th. Oppenheimer boosted their price target on Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Robert W. Baird set a $64.00 price objective on Bentley Systems and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen cut shares of Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $56.60.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 150,000 shares of Bentley Systems stock in a transaction on Monday, July 7th. The stock was sold at an average price of $55.54, for a total value of $8,331,000.00. Following the sale, the director owned 3,859,327 shares in the company, valued at $214,347,021.58. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond B. Bentley sold 122,114 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $50.70, for a total value of $6,191,179.80. Following the sale, the director directly owned 15,347,424 shares of the company's stock, valued at $778,114,396.80. The trade was a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 561,672 shares of company stock worth $29,402,814 in the last 90 days. Insiders own 20.56% of the company's stock.

Bentley Systems Trading Down 0.8%

Bentley Systems stock traded down $0.44 during trading on Tuesday, reaching $52.22. 1,100,231 shares of the company were exchanged, compared to its average volume of 1,427,246. The stock's 50 day simple moving average is $55.25 and its two-hundred day simple moving average is $49.04. The company has a market capitalization of $15.25 billion, a P/E ratio of 66.10, a PEG ratio of 4.25 and a beta of 1.09. 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 52-week low of $36.51 and a 52-week high of $59.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results 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 return on equity of 28.41% and a net margin of 17.91%.The business had revenue of $364.11 million during the quarter, compared to the consensus estimate of $363.51 million. During the same period last year, the company earned $0.31 EPS. The company's revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. Bentley Systems's dividend payout ratio is 35.44%.

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.