Point72 DIFC Ltd Makes New Investment in Bentley Systems, Incorporated (NASDAQ:BSY)

Point72 DIFC Ltd bought a new position in Bentley Systems, Incorporated (NASDAQ:BSY) in the 3rd quarter, Holdings Channel.com reports. The fund bought 4,655 shares of the company’s stock, valued at approximately $237,000.

Several other large investors also recently added to or reduced their stakes in BSY. Swedbank AB grew its position in Bentley Systems by 514.5% in the second quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock worth $204,069,000 after acquiring an additional 3,461,500 shares in the last quarter. Impax Asset Management Group plc bought a new stake in shares of Bentley Systems during the 3rd quarter worth $88,771,000. Fiera Capital Corp bought a new stake in shares of Bentley Systems during the 3rd quarter worth $42,773,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Bentley Systems by 3.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock worth $778,832,000 after buying an additional 586,458 shares during the period. Finally, Creative Planning boosted its holdings in shares of Bentley Systems by 67.9% during the 2nd quarter. Creative Planning now owns 1,091,058 shares of the company’s stock worth $53,855,000 after buying an additional 441,316 shares during the period. 44.16% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Barry J. Bentley sold 34,987 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $48.37, for a total value of $1,692,321.19. Following the completion of the transaction, the director now owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. This represents a 0.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 234,987 shares of company stock worth $11,667,821. 21.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Friday, November 8th. Piper Sandler upped their price objective on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and an average price target of $59.50.

Bentley Systems Price Performance

NASDAQ:BSY opened at $49.74 on Friday. The stock has a market cap of $14.46 billion, a P/E ratio of 44.81, a PEG ratio of 4.32 and a beta of 1.03. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. The company has a fifty day moving average price of $49.17 and a 200 day moving average price of $49.61. 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 released its earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. The firm had revenue of $335.17 million during the quarter, compared to analysts’ expectations of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. Analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is 21.62%.

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.