Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by AGF Management Ltd.

AGF Management Ltd. lessened its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 43.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 265,558 shares of the company’s stock after selling 206,084 shares during the quarter. AGF Management Ltd. owned about 0.09% of Bentley Systems worth $13,108,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Bentley Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock valued at $1,162,002,000 after purchasing an additional 134,516 shares during the last quarter. Swedbank AB grew its position in Bentley Systems by 514.5% in the second 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 during the period. Charles Schwab Investment Management Inc. increased its stake in Bentley Systems by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,430,019 shares of the company’s stock worth $74,618,000 after acquiring an additional 28,285 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Bentley Systems by 2.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,113,400 shares of the company’s stock valued at $58,097,000 after purchasing an additional 23,771 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Bentley Systems by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 589,191 shares of the company’s stock valued at $30,748,000 after purchasing an additional 11,923 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Stock Up 2.1 %

Bentley Systems stock opened at $48.91 on Thursday. The stock has a 50 day moving average of $49.04 and a two-hundred day moving average of $50.59. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. The stock has a market capitalization of $14.11 billion, a price-to-earnings ratio of 45.71, a PEG ratio of 4.03 and a beta of 1.03. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. The firm had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. Bentley Systems’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm posted $0.20 EPS. As a group, research analysts expect that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.24 annualized dividend and a yield of 0.49%. Bentley Systems’s dividend payout ratio is currently 22.43%.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the transaction, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BSY has been the subject of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. Piper Sandler restated an “overweight” rating and set a $63.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group lowered their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.57.

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.