Pacer Advisors Inc. Raises Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Pacer Advisors Inc. boosted its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 117.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,778 shares of the company’s stock after purchasing an additional 29,053 shares during the period. Pacer Advisors Inc.’s holdings in Bentley Systems were worth $2,511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Clear Harbor Asset Management LLC lifted its position in shares of Bentley Systems by 1.5% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock valued at $779,000 after buying an additional 220 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares during the period. Cetera Investment Advisers boosted its position in Bentley Systems by 1.1% during the second quarter. Cetera Investment Advisers now owns 31,449 shares of the company’s stock worth $1,552,000 after purchasing an additional 352 shares during the period. CIBC Asset Management Inc increased its stake in shares of Bentley Systems by 4.3% in the third quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock worth $468,000 after purchasing an additional 378 shares in the last quarter. Finally, Diversify Wealth Management LLC raised its position in shares of Bentley Systems by 2.2% in the third quarter. Diversify Wealth Management LLC now owns 20,192 shares of the company’s stock valued at $993,000 after purchasing an additional 428 shares during the period. 44.16% of the stock is owned by institutional investors.

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 69,573 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the sale, the director now owns 16,705,028 shares in the company, valued at $779,623,656.76. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 21.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. Piper Sandler reduced their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. initiated coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. 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.com, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.29.

Bentley Systems Price Performance

NASDAQ:BSY opened at $46.55 on Friday. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of 41.94, a P/E/G ratio of 3.41 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a fifty day moving average of $47.49 and a 200 day moving average of $48.60. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19.

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

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is currently 21.62%.

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.