Picton Mahoney Asset Management Acquires 10,538 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Picton Mahoney Asset Management lifted its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 9.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 124,892 shares of the company’s stock after acquiring an additional 10,538 shares during the quarter. Picton Mahoney Asset Management’s holdings in Bentley Systems were worth $6,516,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BSY. Everpar Advisors LLC purchased a new stake in shares of Bentley Systems during the fourth quarter valued at approximately $1,106,000. Charles Schwab Investment Management Inc. grew its holdings in Bentley Systems by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,430,019 shares of the company’s stock worth $74,618,000 after acquiring an additional 28,285 shares during the last quarter. Machina Capital S.A.S. bought a new stake in Bentley Systems in the 4th quarter worth $238,000. Vestmark Advisory Solutions Inc. increased its position in shares of Bentley Systems by 3.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 102,623 shares of the company’s stock valued at $5,355,000 after acquiring an additional 3,284 shares during the period. Finally, Sapient Capital LLC bought a new position in shares of Bentley Systems during the fourth quarter valued at about $1,032,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Buying and Selling

In other news, Director Keith A. Bentley sold 88,925 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the sale, the director now owns 17,164,179 shares in the company, valued at $849,283,576.92. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now owns 17,150,752 shares in the company, valued at approximately $943,291,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith A. Bentley sold 88,925 shares of Bentley Systems stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the completion of the sale, the director now owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by company insiders.

Bentley Systems Stock Down 1.0 %

Shares of Bentley Systems stock traded down $0.57 during trading on Wednesday, hitting $54.36. The company’s stock had a trading volume of 1,015,484 shares, compared to its average volume of 1,323,613. Bentley Systems, Incorporated has a 52 week low of $42.11 and a 52 week high of $55.37. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55. The company has a fifty day simple moving average of $50.94 and a two-hundred day simple moving average of $50.89. The company has a market capitalization of $15.54 billion, a PE ratio of 54.73, a P/E/G ratio of 5.36 and a beta of 1.08.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The firm had revenue of $310.64 million during the quarter, compared to analyst estimates of $313.67 million. During the same period last year, the business earned $0.13 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Bentley Systems, Incorporated will post 0.82 earnings per share for the current year.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.05. Bentley Systems’s payout ratio is currently 24.24%.

Wall Street Analyst Weigh In

BSY has been the topic of several recent analyst reports. William Blair began coverage on Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating on the stock. Rosenblatt Securities reissued a “buy” rating and set a $60.00 target price on shares of Bentley Systems in a research note on Tuesday, April 30th. Robert W. Baird raised their price target on Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a report on Wednesday, February 28th. Finally, Mizuho upped their price objective on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.33.

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.