Bentley Systems, Incorporated $BSY Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC grew its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 133.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,012 shares of the company’s stock after purchasing an additional 1,150 shares during the quarter. Parallel Advisors LLC’s holdings in Bentley Systems were worth $109,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BSY. Quantinno Capital Management LP raised its stake in shares of Bentley Systems by 7.2% in the 4th quarter. Quantinno Capital Management LP now owns 5,261 shares of the company’s stock valued at $246,000 after purchasing an additional 354 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Bentley Systems by 42.3% in the 4th quarter. Two Sigma Investments LP now owns 42,700 shares of the company’s stock valued at $1,994,000 after purchasing an additional 12,689 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Bentley Systems in the 4th quarter valued at about $243,000. Vident Advisory LLC raised its stake in shares of Bentley Systems by 30.0% in the 4th quarter. Vident Advisory LLC now owns 10,235 shares of the company’s stock valued at $478,000 after purchasing an additional 2,360 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in shares of Bentley Systems in the 4th quarter valued at about $75,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Trading Down 2.0%

Shares of NASDAQ:BSY opened at $52.51 on Wednesday. The stock has a market capitalization of $15.34 billion, a price-to-earnings ratio of 66.47, a PEG ratio of 4.32 and a beta of 1.09. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $59.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. The company has a 50 day moving average price of $54.87 and a 200 day moving average price of $49.39.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $364.11 million during the quarter, compared to analysts’ expectations of $363.51 million. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. On average, research analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 23rd. Bentley Systems’s dividend payout ratio is 35.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BSY. Oppenheimer upped their target price on shares of Bentley Systems from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Rosenblatt Securities lowered shares of Bentley Systems from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $53.00 to $58.00 in a research note on Thursday, August 7th. KeyCorp increased their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Piper Sandler increased their price objective on shares of Bentley Systems from $57.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Bentley Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the completion of the sale, the director owned 3,859,327 shares in the company, valued at approximately $214,347,021.58. This represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David R. Shaman sold 19,348 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the sale, the insider owned 647,609 shares of the company’s stock, valued at approximately $36,887,808.64. This trade represents a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,869 shares of company stock valued at $10,564,887. 20.56% of the stock is 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.