ING Groep NV Purchases New Stake 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 acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 107,600 shares of the company's stock, valued at approximately $4,233,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSY. Blair William & Co. IL grew its position in shares of Bentley Systems by 5.9% during the 1st quarter. Blair William & Co. IL now owns 18,129 shares of the company's stock worth $713,000 after buying an additional 1,005 shares during the period. XTX Topco Ltd grew its position in shares of Bentley Systems by 272.4% during the 1st quarter. XTX Topco Ltd now owns 33,339 shares of the company's stock worth $1,312,000 after buying an additional 24,387 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Bentley Systems during the 1st quarter worth approximately $998,000. Federated Hermes Inc. acquired a new stake in shares of Bentley Systems during the 1st quarter worth approximately $15,960,000. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Bentley Systems by 44.7% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 804,061 shares of the company's stock worth $31,608,000 after buying an additional 248,359 shares during the period. Institutional investors and hedge funds own 44.16% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on BSY shares. Piper Sandler lifted their price objective on shares of Bentley Systems from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday. KeyCorp lifted their price objective 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. The Goldman Sachs Group lifted their price target on shares of Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research note on Thursday. Oppenheimer lifted their price target on shares of Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Mizuho cut their price target on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $56.60.

Insider Activity at Bentley Systems

In related news, insider David R. Shaman sold 19,348 shares of the firm's stock in a transaction that occurred 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 owned 647,609 shares in the company, valued at $36,887,808.64. This trade represents a 2.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raymond B. Bentley sold 355,103 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $49.96, for a total transaction of $17,740,945.88. Following the completion of the transaction, the director owned 15,992,321 shares of the company's stock, valued at approximately $798,976,357.16. This trade represents a 2.17% 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 owned by insiders.

Bentley Systems Stock Performance

Shares of BSY stock traded down $0.03 on Friday, hitting $53.49. The company's stock had a trading volume of 1,589,018 shares, compared to its average volume of 1,630,579. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.49 and a current ratio of 0.51. The stock's 50 day moving average is $54.04 and its 200-day moving average is $47.67. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $59.25. The company has a market capitalization of $15.62 billion, a PE ratio of 67.71, a PEG ratio of 4.35 and a beta of 1.10.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share 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 28.41%. The business had revenue of $364.11 million during the quarter, compared to analysts' expectations of $363.51 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. Bentley Systems's revenue was up 10.2% compared to the same quarter last year. Equities research analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

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