Handelsinvest Investeringsforvaltning Has $286,000 Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Handelsinvest Investeringsforvaltning reduced its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 34.2% in the first quarter, HoldingsChannel.com reports. The fund owned 5,486 shares of the company’s stock after selling 2,849 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Bentley Systems were worth $286,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in shares of Bentley Systems by 46.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,257 shares of the company’s stock worth $113,000 after purchasing an additional 721 shares in the last quarter. LPL Financial LLC lifted its position in Bentley Systems by 25.2% in the 3rd quarter. LPL Financial LLC now owns 95,068 shares of the company’s stock valued at $4,769,000 after acquiring an additional 19,151 shares in the last quarter. Mariner LLC lifted its position in Bentley Systems by 6.2% in the 3rd quarter. Mariner LLC now owns 21,436 shares of the company’s stock valued at $1,075,000 after acquiring an additional 1,257 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Bentley Systems by 1,388.1% during the 3rd quarter. Federated Hermes Inc. now owns 12,872 shares of the company’s stock worth $646,000 after buying an additional 12,007 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Bentley Systems by 11.4% during the 3rd quarter. Bank of Nova Scotia now owns 5,013 shares of the company’s stock worth $251,000 after buying an additional 515 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Price Performance

Shares of BSY traded up $0.07 during mid-day trading on Wednesday, reaching $49.32. 15,842 shares of the stock traded hands, compared to its average volume of 1,402,179. The firm has a fifty day moving average price of $52.34 and a 200 day moving average price of $51.19. The company has a market cap of $14.23 billion, a price-to-earnings ratio of 46.03, a price-to-earnings-growth ratio of 4.36 and a beta of 1.03. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.53. Bentley Systems, Incorporated has a 1 year low of $44.76 and a 1 year high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $337.76 million during the quarter, compared to analyst estimates of $335.00 million. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. As a group, equities research analysts predict that Bentley Systems, Incorporated will post 0.85 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, June 4th. Bentley Systems’s dividend payout ratio is currently 22.43%.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 17,021 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares in the company, valued at $943,291,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Keith A. Bentley sold 17,021 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares in the company, valued at $943,291,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith A. Bentley sold 118,949 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total transaction of $6,543,384.49. Following the completion of the transaction, the director now owns 17,031,803 shares of the company’s stock, valued at $936,919,483.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,390 shares of company stock worth $10,748,234. Corporate insiders own 21.12% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on BSY shares. Rosenblatt Securities reissued a “buy” rating and set a $60.00 target price on shares of Bentley Systems in a research report on Tuesday, April 30th. William Blair started coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They set an “outperform” rating for the company. Piper Sandler restated an “overweight” rating and set a $63.00 price target (up previously from $60.00) on shares of Bentley Systems in a research note on Wednesday, May 8th. Finally, Mizuho raised their price target on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

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.