Bentley Systems, Incorporated (NASDAQ:BSY) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 2.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 218,828 shares of the company’s stock after buying an additional 5,427 shares during the quarter. Truist Financial Corp’s holdings in Bentley Systems were worth $11,418,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Bentley Systems in the 3rd quarter valued at about $354,000. Simplicity Solutions LLC raised its holdings in shares of Bentley Systems by 10.9% during the third quarter. Simplicity Solutions LLC now owns 4,522 shares of the company’s stock valued at $227,000 after buying an additional 445 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Bentley Systems by 36.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 41,487 shares of the company’s stock worth $2,081,000 after buying an additional 11,012 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Bentley Systems by 17.1% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 70,613 shares of the company’s stock valued at $3,542,000 after acquiring an additional 10,300 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in Bentley Systems by 60.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 28,121 shares of the company’s stock valued at $1,411,000 after acquiring an additional 10,545 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BSY shares. William Blair started coverage on Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating for the company. Piper Sandler reissued an “overweight” rating and set a $60.00 target price on shares of Bentley Systems in a research note on Wednesday, February 28th. Robert W. Baird boosted their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $60.00 target price on shares of Bentley Systems in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.44.

Insider Activity

In related news, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the transaction, the director now owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Keith A. Bentley sold 88,925 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $49.48, for a total value of $4,400,009.00. Following the transaction, the director now owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the sale, the director now owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The disclosure for this sale can be found here. 21.12% of the stock is owned by company insiders.

Bentley Systems Trading Down 2.0 %

Shares of NASDAQ:BSY opened at $51.47 on Thursday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $14.71 billion, a price-to-earnings ratio of 51.99, a PEG ratio of 5.39 and a beta of 1.10. Bentley Systems, Incorporated has a 1-year low of $41.44 and a 1-year high of $55.37. The company has a 50 day moving average price of $50.81 and a 200 day moving average price of $50.87.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $310.64 million during the quarter, compared to analyst estimates of $313.67 million. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $0.13 EPS. On average, research analysts anticipate that Bentley Systems, Incorporated will post 0.82 EPS for the current fiscal year.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 20th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.47%. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is presently 24.24%.

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.