DNB Asset Management AS Boosts Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

DNB Asset Management AS grew its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,073 shares of the company’s stock after purchasing an additional 2,149 shares during the quarter. DNB Asset Management AS’s holdings in Bentley Systems were worth $1,781,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Swedbank AB bought a new position in shares of Bentley Systems during the 1st quarter worth $35,133,000. Vanguard Group Inc. boosted its position in Bentley Systems by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company’s stock worth $1,154,093,000 after purchasing an additional 355,092 shares during the period. Norges Bank purchased a new position in shares of Bentley Systems in the fourth quarter worth about $16,424,000. Janus Henderson Group PLC raised 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 purchasing an additional 202,703 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Bentley Systems during the 4th quarter valued at approximately $6,382,000. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Price Performance

BSY opened at $48.43 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $13.97 billion, a P/E ratio of 44.47, a PEG ratio of 4.21 and a beta of 1.03. The stock has a 50-day moving average price of $49.50 and a 200-day moving average price of $50.95. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.08. The business had revenue of $330.34 million during the quarter, compared to analyst estimates of $325.20 million. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. Bentley Systems’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Equities analysts predict that Bentley Systems, Incorporated will post 0.85 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, June 4th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Tuesday, June 4th. Bentley Systems’s payout ratio is presently 22.43%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BSY. Piper Sandler reaffirmed an “overweight” rating and set a $63.00 target price on shares of Bentley Systems in a report on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Wednesday. Finally, Mizuho increased their target price on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Bentley Systems has a consensus rating of “Moderate Buy” and an average target price of $61.57.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 59,420 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $55.01, for a total value of $3,268,694.20. Following the completion of the sale, the director now owns 16,972,383 shares in the company, valued at $933,650,788.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.12% of the stock is currently owned by insiders.

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.