Victory Capital Management Inc. Reduces Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Victory Capital Management Inc. reduced its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 16.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,936 shares of the company’s stock after selling 18,465 shares during the quarter. Victory Capital Management Inc.’s holdings in Bentley Systems were worth $4,538,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB lifted its stake in shares of Bentley Systems by 514.5% in the 2nd quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock valued at $204,069,000 after purchasing an additional 3,461,500 shares during the period. Vanguard Group Inc. boosted its stake in shares of Bentley Systems by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company’s stock worth $1,154,093,000 after buying an additional 355,092 shares during the last quarter. Norges Bank purchased a new position in shares of Bentley Systems in the 4th quarter worth $16,424,000. Janus Henderson Group PLC lifted its position in Bentley Systems by 2,250.3% during the first quarter. Janus Henderson Group PLC now owns 211,711 shares of the company’s stock valued at $11,055,000 after purchasing an additional 202,703 shares in the last quarter. Finally, Mizuho Markets Americas LLC lifted its position in Bentley Systems by 22.9% during the second quarter. Mizuho Markets Americas LLC now owns 520,684 shares of the company’s stock valued at $25,701,000 after purchasing an additional 97,000 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of the transaction, the director now owns 16,598,656 shares in the company, valued at $820,471,566.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BSY shares. Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Monday. Piper Sandler reissued an “overweight” rating and issued a $63.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.57.

Bentley Systems Trading Down 0.4 %

Shares of Bentley Systems stock opened at $49.36 on Tuesday. The stock has a market cap of $14.24 billion, a P/E ratio of 46.13, a P/E/G ratio of 4.08 and a beta of 1.03. The stock’s 50 day simple moving average is $49.03 and its 200-day simple moving average is $50.55. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. The firm had revenue of $330.34 million for the quarter, compared to analyst estimates of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.20 EPS. Analysts predict that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. Bentley Systems’s payout ratio is currently 22.43%.

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.