Point72 Asia Singapore Pte. Ltd. Makes New $369,000 Investment in Bentley Systems, Incorporated (NASDAQ:BSY)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,272 shares of the company’s stock, valued at approximately $369,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. International Assets Investment Management LLC acquired a new position in Bentley Systems in the 3rd quarter valued at approximately $59,400,000. Mirabella Financial Services LLP grew its holdings in shares of Bentley Systems by 1,155.0% during the 3rd quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock valued at $5,018,000 after acquiring an additional 92,768 shares in the last quarter. Montanaro Asset Management Ltd increased its stake in shares of Bentley Systems by 8.8% in 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 during the last quarter. Cetera Advisors LLC purchased a new stake in shares of Bentley Systems during the first quarter worth $608,000. Finally, Clearline Capital LP acquired a new stake in Bentley Systems during the second quarter valued at $6,999,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Activity

In other Bentley Systems news, Director Barry J. Bentley sold 34,987 shares of Bentley Systems 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 sale, the director now directly owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. The trade was a 0.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 234,987 shares of company stock valued at $11,667,821. 21.12% of the stock is currently owned by insiders.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $49.97 on Tuesday. The firm has a market capitalization of $14.53 billion, a PE ratio of 45.04, a PEG ratio of 4.23 and a beta of 1.04. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year 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. The firm’s fifty day simple moving average is $49.23 and its 200 day simple moving average is $49.75.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business had revenue of $335.17 million for the quarter, compared to analysts’ expectations of $340.36 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts anticipate 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 will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. Bentley Systems’s payout ratio is currently 21.62%.

Wall Street Analysts Forecast Growth

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

Bentley Systems 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.