258,007 Shares in Bentley Systems, Incorporated (NASDAQ:BSY) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 258,007 shares of the company's stock, valued at approximately $10,150,000. Edgestream Partners L.P. owned approximately 0.09% of Bentley Systems at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in Bentley Systems in the fourth quarter worth approximately $809,000. Two Sigma Investments LP grew its position in Bentley Systems by 42.3% in the fourth quarter. Two Sigma Investments LP now owns 42,700 shares of the company's stock worth $1,994,000 after acquiring an additional 12,689 shares during the period. Bright Rock Capital Management LLC purchased a new position in Bentley Systems in the first quarter worth approximately $1,967,000. Mirae Asset Global Investments Co. Ltd. grew its position in Bentley Systems by 99.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock worth $56,000 after acquiring an additional 706 shares during the period. Finally, Bessemer Group Inc. grew its position in Bentley Systems by 8,187,760.9% in the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock worth $74,086,000 after acquiring an additional 1,883,185 shares during the period. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Down 0.1%

Shares of NASDAQ BSY traded down $0.05 during mid-day trading on Tuesday, hitting $56.93. The company had a trading volume of 335,459 shares, compared to its average volume of 1,259,079. The company has a market capitalization of $16.62 billion, a PE ratio of 72.06, a price-to-earnings-growth ratio of 4.58 and a beta of 1.09. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $57.71. The business's 50-day simple moving average is $50.28 and its 200 day simple moving average is $46.22.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. The business had revenue of $370.54 million for the quarter, compared to analysts' expectations of $366.76 million. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. On average, analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Tuesday, June 3rd. Bentley Systems's dividend payout ratio is presently 35.44%.

Insiders Place Their Bets

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the sale, the executive directly owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith A. Bentley sold 150,000 shares of Bentley Systems stock in a transaction dated 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. This trade represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,181,519 shares of company stock valued at $60,257,023 in the last three months. Corporate insiders own 20.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BSY. Oppenheimer lifted their price objective on Bentley Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen raised Bentley Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada lifted their price objective on Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Rosenblatt Securities dropped their price objective on Bentley Systems from $62.00 to $53.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, KeyCorp lifted their price objective on Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $52.30.

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.