ING Groep NV Buys New Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Key Points

• ING Groep NV has acquired a new position in Bentley Systems, purchasing 107,600 shares valued at approximately $4.23 million during the first quarter of the year.
• A number of institutional investors have significantly increased their holdings in Bentley Systems, with notable increases from Bessemer Group Inc. and Skandinaviska Enskilda Banken AB, among others.
• Analysts have varying ratings for Bentley Systems, with the stock's average rating being a "Moderate Buy" and an average price target of $53.70.

ING Groep NV bought a new position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 107,600 shares of the company's stock, valued at approximately $4,233,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. City Holding Co. purchased a new position in shares of Bentley Systems during the 1st quarter worth approximately $26,000. Larson Financial Group LLC raised its position 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 worth $30,000 after buying an additional 717 shares during the period. Fifth Third Bancorp lifted its stake 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 purchasing an additional 435 shares in the last quarter. HM Payson & Co. purchased a new stake in Bentley Systems during the first quarter worth approximately $45,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Bentley Systems by 99.0% during the 1st 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 period. Institutional investors and hedge funds own 44.16% of the company's stock.

Insiders Place Their Bets

In related news, insider David R. Shaman sold 19,348 shares of Bentley Systems stock in a transaction on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the sale, the insider owned 647,609 shares of the company's stock, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the director directly owned 3,859,327 shares of the company's stock, valued at approximately $214,347,021.58. The trade was a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,189,869 shares of company stock worth $60,880,388 in the last quarter. 20.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on BSY. Piper Sandler increased their price objective on shares of Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday. Wall Street Zen downgraded Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. KeyCorp boosted their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $58.00 target price (up from $53.00) on shares of Bentley Systems in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped 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 note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $56.60.

Bentley Systems Price Performance

Shares of BSY traded down $1.70 during mid-day trading on Thursday, hitting $53.52. The company's stock had a trading volume of 3,581,166 shares, compared to its average volume of 1,533,415. The stock has a market capitalization of $15.62 billion, a price-to-earnings ratio of 67.75, a PEG ratio of 4.49 and a beta of 1.10. 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 50-day moving average price of $53.93 and a 200 day moving average price of $47.61. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 29.12%. The company had revenue of $364.11 million during the quarter, compared to analysts' expectations of $363.51 million. During the same period last year, the company posted $0.31 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders 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 yield of 0.5%. Bentley Systems's dividend payout ratio is presently 35.44%.

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.