Johnson Investment Counsel Inc. Grows Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Johnson Investment Counsel Inc. grew its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 19.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,706 shares of the company’s stock after acquiring an additional 9,639 shares during the period. Johnson Investment Counsel Inc.’s holdings in Bentley Systems were worth $2,898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in BSY. Swedbank AB lifted its position in shares of Bentley Systems by 514.5% in the second quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock valued at $204,069,000 after acquiring an additional 3,461,500 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Bentley Systems by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company’s stock valued at $1,154,093,000 after acquiring an additional 355,092 shares in the last quarter. Norges Bank purchased a new position in shares of Bentley Systems in the fourth quarter valued at about $16,424,000. Janus Henderson Group PLC lifted its position in shares of Bentley Systems by 2,250.3% in the first quarter. Janus Henderson Group PLC now owns 211,711 shares of the company’s stock valued at $11,055,000 after acquiring an additional 202,703 shares in the last quarter. Finally, Mizuho Markets Americas LLC increased its holdings in shares of Bentley Systems by 22.9% in the second quarter. Mizuho Markets Americas LLC now owns 520,684 shares of the company’s stock worth $25,701,000 after purchasing an additional 97,000 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Trading Down 0.1 %

Shares of BSY stock opened at $48.87 on Friday. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. The stock’s 50 day simple moving average is $49.03 and its two-hundred day simple moving average is $50.58. The company has a market cap of $14.10 billion, a PE ratio of 45.67, a price-to-earnings-growth ratio of 4.03 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The business had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. During the same period in the prior year, the business posted $0.20 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Research analysts predict that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. Bentley Systems’s payout ratio is 22.43%.

Insider Transactions at Bentley Systems

In other news, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the sale, the director now directly owns 16,598,656 shares in the company, valued at $820,471,566.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 21.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BSY. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. The Goldman Sachs Group reduced their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.57.

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.