Investment Management Corp of Ontario Takes Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Investment Management Corp of Ontario purchased a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the third quarter, Holdings Channel reports. The institutional investor purchased 5,265 shares of the company’s stock, valued at approximately $268,000.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Bentley Systems in the 3rd quarter worth approximately $59,400,000. Mirabella Financial Services LLP increased its stake in shares of Bentley Systems by 1,155.0% in the third quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock worth $5,018,000 after acquiring an additional 92,768 shares during the last quarter. Montanaro Asset Management Ltd raised its holdings in shares of Bentley Systems by 8.8% during the third quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock worth $16,839,000 after acquiring an additional 26,741 shares in the last quarter. Cetera Advisors LLC acquired a new stake in Bentley Systems during the first quarter valued at $608,000. Finally, Clearline Capital LP purchased a new position in Bentley Systems in the second quarter valued at about $6,999,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BSY shares. Piper Sandler lifted their price target on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Bentley Systems Stock Up 0.4 %

Shares of Bentley Systems stock opened at $49.74 on Monday. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The stock has a 50 day moving average price of $49.17 and a two-hundred day moving average price of $49.56. The stock has a market capitalization of $14.46 billion, a P/E ratio of 44.81, a PEG ratio of 4.32 and a beta of 1.03.

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

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.48%. Bentley Systems’s dividend payout ratio is presently 21.62%.

Insider Buying and Selling at Bentley Systems

In related news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the completion of the transaction, the director now directly owns 12,048,235 shares in the company, valued at $589,761,103.25. This represents a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 234,987 shares of company stock valued at $11,667,821 in the last 90 days. 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.