Bentley Systems, Incorporated $BSY Shares Acquired by Swedbank AB

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 lifted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. City Holding Co. acquired a new position in Bentley Systems during the first quarter worth about $26,000. Geneos Wealth Management Inc. grew its position in Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock worth $26,000 after buying an additional 627 shares during the period. Twin Tree Management LP grew its position in Bentley Systems by 361.9% during the first quarter. Twin Tree Management LP now owns 739 shares of the company's stock worth $29,000 after buying an additional 579 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after purchasing an additional 717 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Bentley Systems by 106.6% in the first 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. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 150,000 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the completion of the transaction, the director directly owned 3,859,327 shares of the company's stock, valued at $214,347,021.58. This trade represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond B. Bentley sold 122,114 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $50.70, for a total transaction of $6,191,179.80. Following the transaction, the director directly owned 15,347,424 shares of the company's stock, valued at approximately $778,114,396.80. This represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,983 shares of company stock valued at $16,756,067 in the last ninety days. Corporate insiders own 20.56% of the company's stock.

Bentley Systems Trading Up 2.3%

Shares of Bentley Systems stock traded up $1.21 during trading hours on Wednesday, hitting $53.43. The company's stock had a trading volume of 337,981 shares, compared to its average volume of 1,533,758. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $59.25. The business has a fifty day moving average of $55.25 and a 200 day moving average of $49.04. The company has a market capitalization of $15.61 billion, a PE ratio of 67.18, a P/E/G ratio of 4.25 and a beta of 1.09. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 earnings per share (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 28.41%. The company had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. The business's quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on BSY shares. Oppenheimer upped their price target on shares of Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a 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. Piper Sandler upped their price target on shares of Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. UBS Group upped their price target on shares of Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Rosenblatt Securities downgraded shares of Bentley Systems from a "buy" rating to a "neutral" rating and upped their price target for the company from $53.00 to $58.00 in a report on Thursday, August 7th. Six investment 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's stock. According to MarketBeat, Bentley Systems has a consensus rating of "Moderate Buy" and an average 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.