GSA Capital Partners LLP bought a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 25,375 shares of the company's stock, valued at approximately $998,000.
A number of other hedge funds have also made changes to their positions in BSY. City Holding Co. acquired a new stake in shares of Bentley Systems during the 1st quarter worth about $26,000. Larson Financial Group LLC increased its holdings in shares of 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 during the last quarter. Fifth Third Bancorp grew its position in shares of 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 buying an additional 435 shares during the last quarter. HM Payson & Co. acquired a new stake in shares of Bentley Systems in the 1st quarter valued at about $45,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Bentley Systems by 99.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock valued at $56,000 after purchasing an additional 706 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on BSY. Wall Street Zen cut shares of Bentley Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Mizuho cut their target price on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Rosenblatt Securities lowered their price target on Bentley Systems from $62.00 to $53.00 and set a "buy" rating for the company in a report on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Finally, KeyCorp lifted their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.70.
Get Our Latest Analysis on BSY
Insider Transactions at Bentley Systems
In other news, insider David R. Shaman sold 19,348 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $56.96, for a total value of $1,102,062.08. Following the sale, the insider owned 647,609 shares in the company, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Brock Ballard sold 12,363 shares of the business's stock in a transaction that occurred 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 sale, the executive owned 68,064 shares in the company, valued at approximately $3,068,325.12. This represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,202,232 shares of company stock valued at $61,437,713 over the last 90 days. Company insiders own 20.56% of the company's stock.
Bentley Systems Stock Performance
Shares of BSY traded down $0.86 during trading hours on Friday, reaching $57.12. 1,519,801 shares of the company's stock traded hands, compared to its average volume of 1,350,574. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $59.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $16.67 billion, a price-to-earnings ratio of 72.30, a P/E/G ratio of 4.64 and a beta of 1.10. The business's fifty day simple moving average is $53.29 and its two-hundred day simple moving average is $47.34.
Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results 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. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The company had revenue of $370.54 million for the quarter, compared to analysts' expectations of $366.76 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. The firm's revenue was up 9.7% on a year-over-year basis. Analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.
Bentley Systems Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.07 per share. The ex-dividend date of this dividend 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 35.44%.
Bentley Systems Profile
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Free Report)
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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