Ilmarinen Mutual Pension Insurance Co Acquires New Shares in Bentley Systems, Incorporated $BSY

Key Points

• Ilmarinen Mutual Pension Insurance Co has invested approximately $984,000 in Bentley Systems, acquiring 25,000 shares of the company.
• Multiple hedge funds have increased their holdings in Bentley Systems, with institutional investors now owning 44.16% of the company's stock.
• Analysts have set new price targets for Bentley Systems, with a consensus target of $56.60 and a majority rating it as a "Moderate Buy."

Ilmarinen Mutual Pension Insurance Co acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 25,000 shares of the company's stock, valued at approximately $984,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. City Holding Co. bought a new position in Bentley Systems during the first quarter valued at about $26,000. Twin Tree Management LP increased its stake in Bentley Systems by 361.9% during 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 during the period. Larson Financial Group LLC increased its stake in Bentley Systems by 1,707.1% during 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 during the period. Fifth Third Bancorp increased its stake in Bentley Systems by 106.6% during 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 during the period. Finally, HM Payson & Co. bought a new position in Bentley Systems during the first quarter valued at about $45,000. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Trading Down 0.7%

BSY traded down $0.39 during mid-day trading on Tuesday, reaching $52.27. The stock had a trading volume of 279,348 shares, compared to its average volume of 1,535,910. The stock has a market capitalization of $15.27 billion, a P/E ratio of 66.12, a P/E/G ratio of 4.27 and a beta of 1.09. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. The firm's fifty day simple moving average is $55.32 and its two-hundred day simple moving average is $49.02. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. The firm had revenue of $364.11 million for the quarter, compared to analyst estimates of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. On average, equities analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BSY shares. Rosenblatt Securities lowered Bentley Systems from a "buy" rating to a "neutral" rating and upped their price objective for the company from $53.00 to $58.00 in a research note on Thursday, August 7th. The Goldman Sachs Group upped their price objective on Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research note on Thursday, August 7th. UBS Group upped their price objective on Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Oppenheimer upped their price objective on Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, KeyCorp upped 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. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.60.

Insider Activity

In other news, Director Keith A. Bentley sold 150,000 shares of the 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 transaction, the director owned 3,859,327 shares of the company's stock, valued at $214,347,021.58. This represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the 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 completion of the transaction, the insider directly owned 647,609 shares in the company, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 561,672 shares of company stock valued at $29,402,814 in the last 90 days. 20.56% of the stock is owned by company insiders.

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.