AGF Management Ltd. Reduces Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

AGF Management Ltd. decreased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 43.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 265,558 shares of the company’s stock after selling 206,084 shares during the period. AGF Management Ltd.’s holdings in Bentley Systems were worth $13,108,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Forsta AP Fonden raised its position in Bentley Systems by 45.0% during the first quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock worth $3,316,000 after acquiring an additional 19,700 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Bentley Systems during the 1st quarter worth approximately $935,000. Vanguard Group Inc. raised its position in shares of Bentley Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after purchasing an additional 134,516 shares during the last quarter. Bridgewater Associates LP lifted its stake in Bentley Systems by 10.5% in the 4th quarter. Bridgewater Associates LP now owns 325,786 shares of the company’s stock valued at $17,000,000 after buying an additional 30,982 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new stake in Bentley Systems during the 1st quarter valued at $608,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $63.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. The Goldman Sachs Group reduced their target price 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 reiterated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.57.

Bentley Systems Trading Up 2.1 %

BSY stock opened at $48.91 on Thursday. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The company has a market cap 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 quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. The business has a fifty day simple moving average of $49.04 and a 200-day simple moving average of $50.59.

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

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend 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%.

Insiders Place Their Bets

In other news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction 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 transaction, the director now owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 21.12% of the stock is owned by insiders.

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.