Bridgewater Associates LP Grows Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Bridgewater Associates LP boosted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 6.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 556,684 shares of the company’s stock after purchasing an additional 33,344 shares during the period. Bridgewater Associates LP’s holdings in Bentley Systems were worth $28,285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Bentley Systems during the third quarter valued at approximately $59,400,000. Montanaro Asset Management Ltd raised its position in Bentley Systems by 8.8% during the 3rd quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock worth $16,839,000 after buying an additional 26,741 shares during the last quarter. Cetera Advisors LLC acquired a new position in Bentley Systems during the first quarter valued at $608,000. Mirabella Financial Services LLP grew its stake in shares of Bentley Systems by 1,155.0% during the 3rd quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock worth $5,018,000 after purchasing an additional 92,768 shares during the period. Finally, Clearline Capital LP acquired a new position in shares of Bentley Systems in the 2nd quarter valued at $6,999,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

Shares of NASDAQ BSY opened at $49.18 on Thursday. The stock has a 50 day moving average of $49.27 and a two-hundred day moving average of $49.87. The stock has a market cap of $14.30 billion, a P/E ratio of 44.31, a P/E/G ratio of 4.24 and a beta of 1.04. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. During the same period last year, the firm posted $0.18 EPS. Bentley Systems’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, research analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is currently 21.62%.

Insiders Place Their Bets

In other news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the sale, the director now owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The trade was a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total value of $2,510,000.00. Following the sale, the director now owns 12,298,230 shares in the company, valued at approximately $617,371,146. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 326,032 shares of company stock worth $16,168,176. Corporate insiders own 21.12% of the company’s stock.

Wall Street Analyst Weigh In

BSY has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. The Goldman Sachs Group decreased their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Piper Sandler raised their target price on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Bentley Systems 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.