Edgestream Partners L.P. Takes $10.15 Million Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Edgestream Partners L.P. bought a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 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 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in Bentley Systems in the fourth quarter valued at about $809,000. Polen Capital Management LLC acquired a new position in shares of Bentley Systems during the fourth quarter valued at about $1,000,000. Intech Investment Management LLC raised its position in shares of Bentley Systems by 3.6% in the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock valued at $340,000 after purchasing an additional 254 shares during the last quarter. Xponance Inc. boosted its stake in Bentley Systems by 3.2% in the 4th quarter. Xponance Inc. now owns 29,769 shares of the company's stock worth $1,390,000 after purchasing an additional 935 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Bentley Systems in the 4th quarter worth approximately $3,867,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Raymond B. Bentley sold 355,103 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.96, for a total value of $17,740,945.88. Following the completion of the transaction, the director owned 15,992,321 shares of the company's stock, valued at approximately $798,976,357.16. This represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Keith A. Bentley sold 150,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the completion of the sale, the director directly owned 3,859,327 shares in the company, valued at approximately $214,347,021.58. The trade was a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,201,832 shares of company stock worth $61,414,013 over the last three months. Corporate insiders own 20.56% of the company's stock.

Bentley Systems Stock Performance

Bentley Systems stock traded up $0.07 during midday trading on Thursday, hitting $57.58. 1,423,220 shares of the company were exchanged, compared to its average volume of 1,271,226. The business has a fifty day simple moving average of $50.99 and a two-hundred day simple moving average of $46.45. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market capitalization of $16.80 billion, a PE ratio of 72.89, a price-to-earnings-growth ratio of 4.68 and a beta of 1.09. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $57.97.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 18.46% and a return on equity of 29.18%. The business's revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. On average, sell-side analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Rosenblatt Securities decreased their price target on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating for the company in a report on Monday, May 5th. Mizuho reduced their target price on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Royal Bank Of Canada increased their price objective on Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Wall Street Zen downgraded Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Bentley Systems presently has an average rating of "Moderate Buy" and a consensus price target of $53.20.

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.