Dynamic Technology Lab Private Ltd Takes Position in Bentley Systems, Incorporated $BSY

Key Points

• Dynamic Technology Lab Private Ltd has acquired a stake of 26,839 shares in Bentley Systems, with a valuation of approximately $1,056,000.
• Institutional investors own 44.16% of Bentley Systems' stock, with significant increases in holdings from Bessemer Group Inc. and Vanguard Group Inc. during the first quarter.
• Bentley Systems reported a quarterly earnings per share (EPS) of $0.32, exceeding analysts' expectations, and its revenue grew 10.2% year-over-year.

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 26,839 shares of the company's stock, valued at approximately $1,056,000.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Bentley Systems by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company's stock valued at $708,114,000 after purchasing an additional 898,115 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Bentley Systems by 1.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company's stock valued at $636,027,000 after purchasing an additional 160,496 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Bentley Systems by 8,187,760.9% during the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after purchasing an additional 1,883,185 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Bentley Systems by 44.7% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 804,061 shares of the company's stock valued at $31,608,000 after purchasing an additional 248,359 shares during the last quarter. Finally, Thematics Asset Management increased its position in shares of Bentley Systems by 12.4% during the 1st quarter. Thematics Asset Management now owns 531,483 shares of the company's stock valued at $20,909,000 after purchasing an additional 58,503 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on BSY shares. Robert W. Baird set a $64.00 price objective on Bentley Systems and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Piper Sandler lifted their price target on Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. The Goldman Sachs Group lifted their price target on Bentley Systems from $42.00 to $47.00 and gave the stock a "sell" rating in a research note on Thursday, August 7th. UBS Group lifted their price target on Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, Rosenblatt Securities cut Bentley Systems from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $53.00 to $58.00 in a research note on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.60.

Bentley Systems Trading Down 1.0%

Bentley Systems stock traded down $0.52 during trading hours on Friday, reaching $52.94. The company had a trading volume of 862,542 shares, compared to its average volume of 1,502,309. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 67.01, a P/E/G ratio of 4.31 and a beta of 1.09. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $59.25. The company has a 50-day moving average price of $55.38 and a 200 day moving average price of $48.93. 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 (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The firm had revenue of $364.11 million for 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 quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. Equities analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

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

Insider Transactions at Bentley Systems

In other news, Director Raymond B. Bentley sold 122,114 shares of Bentley Systems stock in a transaction that occurred on 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 in the company, valued at approximately $778,114,396.80. This trade represents a 0.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $1,102,062.08. Following the completion of the sale, the insider owned 647,609 shares in the company, valued at approximately $36,887,808.64. This represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,189,869 shares of company stock worth $60,880,388. 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.