Mediolanum International Funds Ltd Invests $918,000 in Bentley Systems, Incorporated (NASDAQ:BSY)

Mediolanum International Funds Ltd acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,338 shares of the company’s stock, valued at approximately $918,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB boosted its holdings in shares of Bentley Systems by 36.5% in the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock worth $327,242,000 after purchasing an additional 1,873,029 shares in the last quarter. Prentiss Smith & Co. Inc. purchased a new position in shares of Bentley Systems in the 4th quarter worth about $2,982,000. Pacer Advisors Inc. boosted its holdings in shares of Bentley Systems by 117.5% in the 4th quarter. Pacer Advisors Inc. now owns 53,778 shares of the company’s stock worth $2,511,000 after purchasing an additional 29,053 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Bentley Systems by 147.2% in the 4th quarter. SG Americas Securities LLC now owns 69,904 shares of the company’s stock worth $3,265,000 after purchasing an additional 41,625 shares in the last quarter. Finally, Clear Harbor Asset Management LLC boosted its holdings in shares of Bentley Systems by 160.8% in the 4th quarter. Clear Harbor Asset Management LLC now owns 39,991 shares of the company’s stock worth $1,868,000 after purchasing an additional 24,656 shares in the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Trading Up 1.4 %

BSY opened at $46.55 on Monday. The business has a 50 day simple moving average of $47.46 and a two-hundred day simple moving average of $48.57. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 3.41 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The business had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. Bentley Systems’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 EPS. Analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is currently 21.62%.

Wall Street Analyst Weigh In

BSY has been the subject of several analyst reports. JPMorgan Chase & Co. initiated coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 target price for the company. Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a report on Friday, November 8th. Finally, Piper Sandler dropped their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.29.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the transaction, the director now owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 21.12% of the company’s stock.

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.