Bentley Systems, Incorporated (NASDAQ:BSY) Shares Bought by Covea Finance

Covea Finance grew its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 33.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,000 shares of the company's stock after buying an additional 9,300 shares during the quarter. Covea Finance's holdings in Bentley Systems were worth $1,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of BSY. Intech Investment Management LLC increased its stake in Bentley Systems by 3.6% in the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock worth $340,000 after buying an additional 254 shares in the last quarter. Prentiss Smith & Co. Inc. raised its stake in Bentley Systems by 0.5% during the 1st quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company's stock valued at $2,524,000 after purchasing an additional 315 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Bentley Systems by 3.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company's stock worth $469,000 after purchasing an additional 317 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Bentley Systems by 7.2% in the 4th quarter. Quantinno Capital Management LP now owns 5,261 shares of the company's stock worth $246,000 after purchasing an additional 354 shares during the period. Finally, Prudential PLC grew its holdings in Bentley Systems by 0.6% during the 4th quarter. Prudential PLC now owns 63,008 shares of the company's stock valued at $2,942,000 after buying an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.

Insider Activity at Bentley Systems

In other news, Director Raymond B. Bentley sold 355,103 shares of Bentley Systems stock in a transaction on Monday, June 16th. The shares were sold at an average price of $49.96, for a total transaction of $17,740,945.88. Following the completion of the sale, the director now directly owns 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Brock Ballard sold 12,363 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total transaction of $557,324.04. Following the sale, the executive now directly owns 68,064 shares in the company, valued at $3,068,325.12. This trade represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,012,363 shares of company stock valued at $50,872,826 in the last ninety days. Corporate insiders own 20.56% of the company's stock.

Bentley Systems Stock Down 0.2%

Shares of BSY stock traded down $0.13 during mid-day trading on Wednesday, hitting $52.42. 1,738,140 shares of the stock traded hands, compared to its average volume of 1,225,256. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $53.65. The stock has a market cap of $15.30 billion, a P/E ratio of 55.90, a P/E/G ratio of 4.41 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49. The stock's fifty day moving average is $46.99 and its two-hundred day moving average is $45.53.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.05. The company had revenue of $370.54 million during the quarter, compared to analysts' expectations of $366.76 million. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. Bentley Systems's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. Equities analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current 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 dividend of $0.07 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 annualized dividend and a yield of 0.53%. Bentley Systems's dividend payout ratio (DPR) is 35.44%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BSY shares. JPMorgan Chase & Co. lowered their target price on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Mizuho decreased their price target on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Royal Bank Of Canada raised their price objective on Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. The Goldman Sachs Group downgraded Bentley Systems from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $51.00 to $42.00 in a research report on Friday, February 28th. Finally, Robert W. Baird cut their price target on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.00.

About Bentley Systems

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.