KLP Kapitalforvaltning AS Has $3.58 Million Position in Bentley Systems, Incorporated $BSY

KLP Kapitalforvaltning AS boosted its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 31.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,400 shares of the company’s stock after buying an additional 15,700 shares during the period. KLP Kapitalforvaltning AS’s holdings in Bentley Systems were worth $3,584,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after buying an additional 627 shares during the period. Twin Tree Management LP lifted its holdings in Bentley Systems by 361.9% in the first quarter. Twin Tree Management LP now owns 739 shares of the company’s stock valued at $29,000 after buying an additional 579 shares during the period. Larson Financial Group LLC lifted its holdings in Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock valued at $30,000 after buying an additional 717 shares during the period. Fifth Third Bancorp lifted its holdings in Bentley Systems by 106.6% in the first quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock valued at $33,000 after buying an additional 435 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Bentley Systems by 114.5% in the second quarter. GAMMA Investing LLC now owns 1,053 shares of the company’s stock valued at $57,000 after buying an additional 562 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on BSY shares. Barclays assumed coverage on shares of Bentley Systems in a report on Tuesday. They issued an “equal weight” rating and a $57.00 price objective on the stock. Wall Street Zen lowered shares of Bentley Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 16th. The Goldman Sachs Group increased their target price on shares of Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, August 7th. KeyCorp increased their target price on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Finally, Rosenblatt Securities lowered shares of Bentley Systems from a “buy” rating to a “neutral” rating and increased their target price for the stock from $53.00 to $58.00 in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $56.64.

Insider Activity at Bentley Systems

In related news, insider David R. Shaman sold 19,348 shares of the firm’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the sale, the insider directly owned 647,609 shares in the company, valued at $36,887,808.64. This trade represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 20.56% of the stock is currently owned by insiders.

Bentley Systems Trading Down 2.7%

Shares of NASDAQ:BSY opened at $49.33 on Friday. Bentley Systems, Incorporated has a 12 month low of $36.51 and a 12 month high of $59.25. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07. The company’s fifty day simple moving average is $53.45 and its 200 day simple moving average is $50.38. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 62.44, a PEG ratio of 3.98 and a beta of 1.07.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The business had revenue of $364.11 million for the quarter, compared to analyst estimates of $363.51 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, research analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, September 23rd. 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.