Quest Partners LLC Takes Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Quest Partners LLC bought a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,344 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds have also modified their holdings of the company. Swedbank AB lifted its stake in Bentley Systems by 514.5% in the 2nd quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock worth $204,069,000 after acquiring an additional 3,461,500 shares in the last quarter. Impax Asset Management Group plc acquired a new position in Bentley Systems in the 3rd quarter worth about $88,771,000. Fiera Capital Corp acquired a new position in Bentley Systems in the 3rd quarter worth about $42,773,000. Kayne Anderson Rudnick Investment Management LLC increased its position in Bentley Systems by 3.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock worth $778,832,000 after purchasing an additional 586,458 shares during the last quarter. Finally, Creative Planning increased its position in Bentley Systems by 67.9% in the 2nd quarter. Creative Planning now owns 1,091,058 shares of the company’s stock worth $53,855,000 after purchasing an additional 441,316 shares during the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $49.18 on Thursday. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 44.31, a P/E/G ratio of 4.24 and a beta of 1.04. The business’s 50-day simple moving average is $49.27 and its 200-day simple moving average is $49.87. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $335.17 million for 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%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. As a group, equities research analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is presently 21.62%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BSY shares. Piper Sandler upped their target price on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Friday, November 8th. Finally, The Goldman Sachs Group lowered their price objective on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and an average target price of $59.50.

Insider Activity

In related news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the sale, the director now owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The trade was a 0.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry J. Bentley sold 34,987 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $48.37, for a total value of $1,692,321.19. Following the completion of the sale, the director now directly owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. This represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 326,032 shares of company stock worth $16,168,176. Company insiders own 21.12% of the company’s stock.

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.