Asahi Life Asset Management CO. LTD. Acquires New Shares in Bentley Systems, Incorporated (NASDAQ:BSY)

Asahi Life Asset Management CO. LTD. bought a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,900 shares of the company’s stock, valued at approximately $271,000.

Several other hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new position in shares of Bentley Systems during the 4th quarter worth $809,000. Polen Capital Management LLC acquired a new position in shares of Bentley Systems during the 4th quarter worth $1,000,000. Intech Investment Management LLC increased its stake in shares of Bentley Systems by 3.6% during the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock worth $340,000 after purchasing an additional 254 shares during the last quarter. Xponance Inc. increased its stake in shares of Bentley Systems by 3.2% during the 4th quarter. Xponance Inc. now owns 29,769 shares of the company’s stock worth $1,390,000 after purchasing an additional 935 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Bentley Systems during the 4th quarter worth $3,867,000. 44.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BSY shares. UBS Group increased their price target on shares of Bentley Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Royal Bank Of Canada increased their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Wall Street Zen upgraded shares of Bentley Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, July 8th. KeyCorp increased their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Finally, Mizuho lowered their target price on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.30.

Insider Activity at Bentley Systems

In other news, insider David R. Shaman sold 19,156 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $54.98, for a total transaction of $1,053,196.88. Following the completion of the transaction, the insider directly owned 670,558 shares of the company’s stock, valued at approximately $36,867,278.84. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Brock Ballard sold 12,363 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction of $557,324.04. Following the transaction, the executive directly owned 68,064 shares of the company’s stock, valued at $3,068,325.12. The trade was a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,181,519 shares of company stock valued at $60,257,023 in the last quarter. Company insiders own 20.56% of the company’s stock.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $56.98 on Tuesday. Bentley Systems, Incorporated has a 1 year low of $36.51 and a 1 year high of $57.42. The firm’s fifty day simple moving average is $50.28 and its 200 day simple moving average is $46.22. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $16.63 billion, a PE ratio of 72.13, a PEG ratio of 4.58 and a beta of 1.09.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The firm had revenue of $370.54 million during the quarter, compared to the consensus estimate of $366.76 million. During the same period in the prior year, the firm earned $0.31 EPS. The business’s revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, June 3rd were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Tuesday, June 3rd. Bentley Systems’s dividend payout ratio (DPR) is presently 35.44%.

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.