Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP decreased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 58.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,462 shares of the company’s stock after selling 6,362 shares during the quarter. Aigen Investment Management LP’s holdings in Bentley Systems were worth $227,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC bought a new position in Bentley Systems in the 3rd quarter worth approximately $59,400,000. Vanguard Group Inc. grew its stake in shares of Bentley Systems by 0.6% in the first 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 in the last quarter. Montanaro Asset Management Ltd increased its holdings in shares of Bentley Systems by 8.8% during the third quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock valued at $16,839,000 after purchasing an additional 26,741 shares during the period. Cetera Advisors LLC bought a new stake in shares of Bentley Systems during the first quarter valued at about $608,000. Finally, Clearline Capital LP acquired a new stake in Bentley Systems in the second quarter worth about $6,999,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Price Performance

NASDAQ BSY opened at $46.59 on Friday. The stock has a market capitalization of $13.54 billion, a P/E ratio of 41.97, a P/E/G ratio of 4.04 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The business’s fifty day moving average is $49.40 and its two-hundred day moving average is $50.18. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The business had revenue of $335.17 million during the quarter, compared to the consensus estimate of $340.36 million. During the same period in the prior year, the business posted $0.18 earnings per share. Bentley Systems’s revenue was up 9.3% compared to the same quarter last year. On average, research analysts forecast that Bentley Systems, Incorporated will post 0.9 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Tuesday, September 17th. Bentley Systems’s payout ratio is 21.62%.

Wall Street Analyst Weigh In

A number of research firms have commented on BSY. Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Friday, November 8th. Piper Sandler boosted their target price on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. 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. Finally, The Goldman Sachs Group dropped their price objective on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

Insider Transactions at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction 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 directly owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The trade was a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $50.92, for a total value of $2,546,000.00. Following the sale, the director now owns 12,148,235 shares of the company’s stock, valued at $618,588,126.20. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 326,032 shares of company stock valued at $16,168,176 over the last ninety days. Corporate insiders own 21.12% of the company’s stock.

About Bentley Systems

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.