Thematics Asset Management Has $24.03 Million Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Thematics Asset Management raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 15.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,980 shares of the company’s stock after buying an additional 61,875 shares during the period. Thematics Asset Management owned 0.16% of Bentley Systems worth $24,032,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in Bentley Systems in the third quarter valued at about $59,400,000. Montanaro Asset Management Ltd increased its position in Bentley Systems by 8.8% in the 3rd quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock valued at $16,839,000 after acquiring an additional 26,741 shares during the period. Cetera Advisors LLC acquired a new position in shares of Bentley Systems during the first quarter worth $608,000. Clearline Capital LP bought a new stake in shares of Bentley Systems in the second quarter worth $6,999,000. Finally, Impax Asset Management Group plc acquired a new stake in Bentley Systems in the third quarter valued at $88,771,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Down 0.3 %

Shares of NASDAQ BSY traded down $0.13 during midday trading on Tuesday, hitting $49.49. 60,902 shares of the stock traded hands, compared to its average volume of 1,206,734. The business has a 50 day moving average price of $49.30 and a two-hundred day moving average price of $49.92. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market cap of $14.39 billion, a PE ratio of 44.70, a P/E/G ratio of 4.14 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $335.17 million for 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%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. On average, equities analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. Bentley Systems’s dividend payout ratio (DPR) is currently 21.62%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 approximately $820,471,566.08. The trade was a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Barry J. Bentley sold 34,987 shares of the 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 transaction, the director now directly owns 12,213,248 shares of the company’s stock, valued at approximately $590,754,805.76. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 326,032 shares of company stock valued at $16,168,176. Corporate 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.