Federated Hermes Inc. Purchases Shares of 405,705 Bentley Systems, Incorporated (NASDAQ:BSY)

Key Points

• Federated Hermes Inc. has acquired a new stake in Bentley Systems, purchasing 405,705 shares valued at approximately $15.96 million, representing about 0.13% of the company's outstanding stock.
• Analyst ratings for Bentley Systems have varied, with some firms lowering price targets; however, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.70.
• Bentley Systems reported a net margin of 18.46% and an increase in revenue of 9.7% year-over-year during its latest quarterly earnings, exceeding analyst estimates.

Federated Hermes Inc. bought a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 405,705 shares of the company's stock, valued at approximately $15,960,000. Federated Hermes Inc. owned approximately 0.13% of Bentley Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. City Holding Co. acquired a new stake in Bentley Systems in the 1st quarter valued at approximately $26,000. Larson Financial Group LLC lifted its stake in Bentley Systems by 1,707.1% in the 1st 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. Fifth Third Bancorp lifted its stake in Bentley Systems by 106.6% in the 1st 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. HM Payson & Co. acquired a new position in Bentley Systems during the first quarter worth $45,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Bentley Systems by 99.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock worth $56,000 after purchasing an additional 706 shares during the last quarter. Institutional investors own 44.16% of the company's stock.

Insider Buying and Selling

In other Bentley Systems news, Director Keith A. Bentley sold 150,000 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $214,347,021.58. This trade represents a 3.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Brock Ballard sold 12,363 shares of Bentley Systems stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total value of $557,324.04. Following the completion of the transaction, the executive owned 68,064 shares in the company, valued at approximately $3,068,325.12. The trade was a 15.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,202,232 shares of company stock worth $61,437,713 over the last three months. Company insiders own 20.56% of the company's stock.

Bentley Systems Stock Performance

Shares of Bentley Systems stock traded up $0.78 during trading on Monday, reaching $57.90. The company's stock had a trading volume of 1,225,030 shares, compared to its average volume of 1,426,564. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.13. The business's 50-day moving average price is $53.29 and its 200-day moving average price is $47.35. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25. The firm has a market cap of $16.90 billion, a PE ratio of 60.77, a P/E/G ratio of 4.64 and a beta of 1.10.

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

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were given a $0.07 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. Bentley Systems's dividend payout ratio (DPR) is presently 35.44%.

Wall Street Analyst Weigh In

Several research analysts recently commented on BSY shares. JPMorgan Chase & Co. reduced their target price on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Robert W. Baird raised their price target on Bentley Systems from $54.00 to $64.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Mizuho dropped their price objective on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Rosenblatt Securities decreased their target price on shares of 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, Wall Street Zen lowered shares of Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.70.

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.