Crestline Management LP Takes $211,000 Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Crestline Management LP purchased a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,511 shares of the company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB lifted its position in shares of Bentley Systems by 36.5% in the fourth 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. Pictet Asset Management Holding SA lifted its position in shares of Bentley Systems by 0.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company’s stock worth $262,209,000 after purchasing an additional 24,019 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Bentley Systems by 41.9% in the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock worth $115,719,000 after purchasing an additional 736,369 shares in the last quarter. AXA S.A. lifted its position in shares of Bentley Systems by 7.6% in the fourth quarter. AXA S.A. now owns 1,603,157 shares of the company’s stock worth $74,867,000 after purchasing an additional 112,824 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Bentley Systems by 18.9% in the fourth quarter. Northern Trust Corp now owns 1,439,065 shares of the company’s stock worth $67,204,000 after purchasing an additional 228,502 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Price Performance

Shares of BSY opened at $46.53 on Monday. The firm has a market capitalization of $14.10 billion, a PE ratio of 41.92, a PEG ratio of 3.52 and a beta of 1.05. The company’s 50-day moving average is $42.20 and its 200-day moving average is $45.54. Bentley Systems, Incorporated has a fifty-two week low of $36.51 and a fifty-two week high of $57.19. 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 (NASDAQ:BSY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. The company had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. Equities analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were given a $0.07 dividend. The ex-dividend date was Wednesday, March 19th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.60%. Bentley Systems’s dividend payout ratio is presently 35.44%.

Insider Activity

In related news, CRO Brock Ballard sold 12,363 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total value of $557,324.04. Following the transaction, the executive now directly owns 68,064 shares in the company, valued at approximately $3,068,325.12. This represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 20.56% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on BSY shares. Mizuho cut their price objective on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. UBS Group boosted their price objective on shares of Bentley Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday. Rosenblatt Securities cut their price objective on shares of Bentley Systems from $62.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. KeyCorp boosted their price objective on shares of Bentley Systems from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Robert W. Baird dropped their price target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.00.

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.