Swedbank AB Increases Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Swedbank AB lifted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 36.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,007,324 shares of the company’s stock after buying an additional 1,873,029 shares during the period. Swedbank AB’s holdings in Bentley Systems were worth $327,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Impax Asset Management Group plc bought a new stake in Bentley Systems in the third quarter valued at about $88,771,000. Fiera Capital Corp purchased a new stake in Bentley Systems in the 3rd quarter worth approximately $42,773,000. Handelsbanken Fonder AB raised its position in Bentley Systems by 41.8% during the third quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock valued at $67,222,000 after acquiring an additional 390,000 shares in the last quarter. Copeland Capital Management LLC boosted its holdings in Bentley Systems by 60.9% during the third quarter. Copeland Capital Management LLC now owns 683,962 shares of the company’s stock valued at $34,752,000 after acquiring an additional 258,992 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in Bentley Systems during the third quarter worth about $10,501,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Buying and Selling at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the transaction, the director now directly owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 21.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BSY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th. Finally, Piper Sandler decreased their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and an average target price of $57.29.

Bentley Systems Trading Down 1.3 %

BSY traded down $0.63 during trading on Wednesday, reaching $45.95. The company had a trading volume of 24,358 shares, compared to its average volume of 1,161,818. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The stock has a market cap of $13.36 billion, a P/E ratio of 41.39, a PEG ratio of 3.48 and a beta of 1.04. The business has a 50 day simple moving average of $47.56 and a 200-day simple moving average of $48.64. The company has a quick ratio of 0.52, a current 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, meeting the consensus estimate of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The business had revenue of $335.17 million during the quarter, compared to analysts’ expectations of $340.36 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is currently 21.62%.

Bentley Systems Company 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.