Swedbank AB Acquires 111,884 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Swedbank AB increased its stake in Bentley Systems by 1.6%, owning approximately 2.44% of the company, valued at $280 million.
• Bentley Systems reported $0.32 EPS for the last quarter, exceeding expectations, and its revenue rose by 10.2% year-over-year to $364.11 million.
• Hedge funds and institutional investors control 44.16% of Bentley Systems, with several firms significantly increasing their holdings during the first quarter.

Swedbank AB grew its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,119,208 shares of the company's stock after acquiring an additional 111,884 shares during the quarter. Swedbank AB owned 2.44% of Bentley Systems worth $280,070,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Two Sigma Investments LP grew its holdings in Bentley Systems by 42.3% during the fourth quarter. Two Sigma Investments LP now owns 42,700 shares of the company's stock valued at $1,994,000 after purchasing an additional 12,689 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Bentley Systems in the 1st quarter valued at $920,000. Bright Rock Capital Management LLC bought a new stake in shares of Bentley Systems in the 1st quarter valued at $1,967,000. Mirae Asset Global Investments Co. Ltd. raised its stake 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 buying an additional 706 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Bentley Systems by 8,187,760.9% during the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock worth $74,086,000 after acquiring an additional 1,883,185 shares in the last quarter. Institutional investors own 44.16% of the company's stock.

Insider Buying and Selling at Bentley Systems

In other news, Director Raymond B. Bentley sold 273,094 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $50.30, for a total value of $13,736,628.20. Following the transaction, the director directly owned 15,719,227 shares of the company's stock, valued at $790,677,118.10. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was 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 of the company's stock, valued at approximately $36,887,808.64. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 834,766 shares of company stock worth $43,139,443 over the last ninety days. Insiders own 20.56% of the company's stock.

Bentley Systems Stock Down 0.5%

BSY stock traded down $0.28 during mid-day trading on Monday, reaching $52.66. The company had a trading volume of 957,527 shares, compared to its average volume of 1,456,292. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 55.73, a PEG ratio of 4.27 and a beta of 1.09. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25. The stock has a 50 day simple moving average of $55.38 and a two-hundred day simple moving average of $48.96. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.51 and a quick ratio of 0.51.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating 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 period last year, the business earned $0.31 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. As a group, equities analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 23rd. Bentley Systems's payout ratio is currently 35.44%.

Analyst Ratings Changes

A number of research firms have recently commented on BSY. Rosenblatt Securities lowered Bentley Systems from a "buy" rating to a "neutral" rating and raised their price target for the stock from $53.00 to $58.00 in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. The Goldman Sachs Group upped their price target on shares of Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a report on Thursday, August 7th. Oppenheimer raised their price objective on shares of Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, 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. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $56.60.

About Bentley Systems

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.