Commerce Bank Buys 4,838 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Commerce Bank grew its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,944 shares of the company’s stock after purchasing an additional 4,838 shares during the quarter. Commerce Bank’s holdings in Bentley Systems were worth $7,415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in Bentley Systems by 2.7% in the first quarter. Russell Investments Group Ltd. now owns 18,711 shares of the company’s stock worth $977,000 after buying an additional 494 shares during the period. UniSuper Management Pty Ltd boosted its position in shares of Bentley Systems by 114.3% during the first quarter. UniSuper Management Pty Ltd now owns 3,000 shares of the company’s stock valued at $157,000 after purchasing an additional 1,600 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Bentley Systems by 18,074.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,996 shares of the company’s stock worth $522,000 after purchasing an additional 9,941 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Bentley Systems during the 1st quarter valued at $286,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Bentley Systems by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 401,055 shares of the company’s stock worth $20,944,000 after acquiring an additional 6,235 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bentley Systems

In other news, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the sale, the director now owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. This represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the transaction, the director now owns 12,298,230 shares in the company, valued at $617,371,146. This trade represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 326,032 shares of company stock worth $16,168,176 over the last quarter. Company insiders own 21.12% of the company’s stock.

Analysts Set New Price Targets

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

Bentley Systems Stock Performance

BSY stock opened at $47.85 on Friday. The stock has a market capitalization of $13.91 billion, a PE ratio of 43.11, a price-to-earnings-growth ratio of 3.99 and a beta of 1.04. The stock’s 50 day simple moving average is $49.32 and its 200 day simple moving average is $50.06. 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 quarterly earnings data on Thursday, November 7th. The company reported $0.24 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 company had revenue of $335.17 million for the quarter, compared to analysts’ expectations of $340.36 million. During the same period last year, the firm posted $0.18 earnings per share. Bentley Systems’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.24 annualized dividend and a dividend yield of 0.50%. Bentley Systems’s payout ratio is 21.62%.

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.