Toronto Dominion Bank Grows Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Toronto Dominion Bank raised its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 30.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,188 shares of the company’s stock after buying an additional 4,770 shares during the period. Toronto Dominion Bank’s holdings in Bentley Systems were worth $1,026,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its stake in shares of Bentley Systems by 4,618.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after buying an additional 508 shares during the period. Point72 Hong Kong Ltd bought a new stake in Bentley Systems during the third quarter valued at about $30,000. Blue Trust Inc. boosted its position in Bentley Systems by 68,500.0% during the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after purchasing an additional 685 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after purchasing an additional 276 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in Bentley Systems by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after purchasing an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the sale, the director now directly owns 12,298,230 shares of the company’s stock, valued at approximately $617,371,146. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 234,987 shares of company stock worth $11,667,821 over the last quarter. Insiders own 21.12% of the company’s stock.

Bentley Systems Trading Up 1.9 %

Shares of Bentley Systems stock opened at $48.03 on Tuesday. The firm’s 50 day simple moving average is $48.98 and its two-hundred day simple moving average is $49.34. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 43.27, a PEG ratio of 4.04 and a beta of 1.03. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

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 the consensus estimate of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The firm had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. During the same period in the prior year, the firm earned $0.18 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. Analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is 21.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BSY shares. Piper Sandler lifted their price objective on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.43.

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.