Exchange Traded Concepts LLC Acquires New Shares in Bentley Systems, Incorporated $BSY

Key Points

• Exchange Traded Concepts LLC has acquired 25,855 shares of Bentley Systems, Incorporated, valued at approximately $1.4 million.
• Bentley Systems reported earnings per share (EPS) of $0.32 for the last quarter, surpassing analysts' expectations of $0.29.
• The company declared a quarterly dividend of $0.07 per share, yielding 0.5%, which is to be paid to shareholders on September 30th.

Exchange Traded Concepts LLC acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,855 shares of the company's stock, valued at approximately $1,395,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. City Holding Co. bought a new stake in shares of Bentley Systems in the first quarter valued at about $26,000. Geneos Wealth Management Inc. raised its holdings in shares of Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock valued at $26,000 after acquiring an additional 627 shares in the last quarter. Twin Tree Management LP raised its holdings in shares of Bentley Systems by 361.9% in the first quarter. Twin Tree Management LP now owns 739 shares of the company's stock valued at $29,000 after acquiring an additional 579 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after acquiring an additional 717 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Bentley Systems by 106.6% in the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock valued at $33,000 after acquiring an additional 435 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Trading Up 1.5%

Bentley Systems stock opened at $53.60 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of 67.85, a price-to-earnings-growth ratio of 4.26 and a beta of 1.09. The stock has a 50-day moving average price of $54.97 and a 200 day moving average price of $49.37.

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

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. Bentley Systems's payout ratio is presently 35.44%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler lifted their price objective on Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. UBS Group lifted their target price on 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 Bentley Systems from a "buy" rating to a "neutral" rating and lifted their target price for the company from $53.00 to $58.00 in a research note on Thursday, August 7th. KeyCorp lifted their target price on Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, Robert W. Baird set a $64.00 target price on Bentley Systems and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $56.60.

Insider Buying and Selling

In other Bentley Systems news, insider David R. Shaman sold 19,348 shares of the business's 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 transaction, the insider directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith A. Bentley sold 150,000 shares of the business'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 transaction, the director directly owned 3,859,327 shares of the company's stock, valued at $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 189,869 shares of company stock valued at $10,564,887 over the last three months. 20.56% of the stock is currently owned by corporate insiders.

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.

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