Caxton Associates LLP Makes New Investment in Bentley Systems, Incorporated $BSY

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 position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 25,572 shares of the company's stock, valued at approximately $1,006,000.

Other hedge funds have also made changes to their positions in the company. City Holding Co. purchased a new stake in Bentley Systems during the 1st quarter worth $26,000. Twin Tree Management LP lifted its stake in shares of 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 purchasing an additional 579 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Bentley Systems by 1,707.1% during the 1st quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after buying an additional 717 shares during the period. Fifth Third Bancorp lifted 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 acquiring an additional 435 shares in the last quarter. Finally, HM Payson & Co. purchased a new position in Bentley Systems in the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 44.16% of the company's stock.

Analyst Ratings Changes

BSY has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Rosenblatt Securities lowered shares of Bentley Systems from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $53.00 to $58.00 in a report on Thursday, August 7th. Piper Sandler upped their price objective on shares of Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. KeyCorp lifted their target price on Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Robert W. Baird set a $64.00 price target on Bentley Systems and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $56.60.

Bentley Systems Stock Down 1.0%

Bentley Systems stock traded down $0.52 during midday trading on Friday, hitting $52.94. The stock had a trading volume of 862,542 shares, compared to its average volume of 1,502,309. The business has a fifty day moving average price of $55.38 and a 200 day moving average price of $48.90. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $59.25. The stock has a market cap of $15.46 billion, a P/E ratio of 67.01, a P/E/G ratio of 4.31 and a beta of 1.09. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. The company had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The business's revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. Research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.5%. Bentley Systems's payout ratio is 35.44%.

Insiders Place Their Bets

In other Bentley Systems news, Director Raymond B. Bentley sold 122,114 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $50.70, for a total value of $6,191,179.80. Following the transaction, the director owned 15,347,424 shares of the company's stock, valued at $778,114,396.80. This trade represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $56.96, for a total value of $1,102,062.08. Following the completion of the transaction, the insider owned 647,609 shares of the company's stock, valued at approximately $36,887,808.64. The trade was a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,189,869 shares of company stock valued at $60,880,388. Company insiders own 20.56% of the company's stock.

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.