SG Americas Securities LLC increased its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 449.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 384,291 shares of the company's stock after purchasing an additional 314,387 shares during the quarter. SG Americas Securities LLC owned approximately 0.13% of Bentley Systems worth $15,118,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA increased its position in Bentley Systems by 0.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company's stock worth $262,209,000 after purchasing an additional 24,019 shares in the last quarter. Impax Asset Management Group plc increased its position in Bentley Systems by 41.9% during the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company's stock worth $115,719,000 after purchasing an additional 736,369 shares in the last quarter. AXA S.A. increased its position in Bentley Systems by 7.6% during the 4th quarter. AXA S.A. now owns 1,603,157 shares of the company's stock worth $74,867,000 after purchasing an additional 112,824 shares in the last quarter. Northern Trust Corp grew its holdings in Bentley Systems by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,439,065 shares of the company's stock valued at $67,204,000 after buying an additional 228,502 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Bentley Systems by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company's stock valued at $49,211,000 after acquiring an additional 97,950 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on BSY shares. Royal Bank of Canada upped their price objective on shares of Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. dropped their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Robert W. Baird dropped their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Wall Street Zen raised shares of Bentley Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Rosenblatt Securities dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $52.00.
Read Our Latest Stock Report on BSY
Insiders Place Their Bets
In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the completion of the transaction, the executive now owns 68,064 shares in the company, valued at $3,068,325.12. This represents a 15.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 20.56% of the stock is owned by company insiders.
Bentley Systems Trading Up 1.9%
Shares of NASDAQ:BSY traded up $0.91 during trading on Thursday, reaching $49.18. 1,289,966 shares of the stock were exchanged, compared to its average volume of 1,222,244. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems, Incorporated has a 12-month low of $36.51 and a 12-month high of $52.12. The firm has a market cap of $14.35 billion, a price-to-earnings ratio of 44.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.07. The firm's 50-day moving average price is $45.48 and its 200 day moving average price is $45.50.
Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.05. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The business had revenue of $370.54 million during the quarter, compared to analysts' expectations of $366.76 million. During the same quarter in the previous year, the business earned $0.31 EPS. The company's revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.
Bentley Systems Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Tuesday, June 3rd. Bentley Systems's dividend payout ratio is presently 35.44%.
Bentley Systems Company 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.
Further Reading
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