Conestoga Capital Advisors LLC Has $426,000 Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Conestoga Capital Advisors LLC raised its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 32.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,385 shares of the company’s stock after buying an additional 2,035 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Bentley Systems were worth $426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSY. Vanguard Group Inc. grew its holdings in shares of Bentley Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after purchasing an additional 134,516 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in 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 in the last quarter. Swedbank AB lifted its position in Bentley Systems by 24.2% during the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock worth $260,874,000 after buying an additional 1,000,000 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Bentley Systems by 41.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock valued at $67,222,000 after purchasing an additional 390,000 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Bentley Systems by 7.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company’s stock valued at $60,839,000 after purchasing an additional 85,565 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Up 1.3 %

BSY stock traded up $0.64 on Friday, reaching $48.90. 118,032 shares of the company traded hands, compared to its average volume of 1,209,293. The company has a market cap of $14.21 billion, a P/E ratio of 42.33, a price-to-earnings-growth ratio of 4.14 and a beta of 1.03. The firm has a fifty day simple moving average of $49.68 and a 200-day simple moving average of $50.46. Bentley Systems, Incorporated has a one year low of $43.82 and a one 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 earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.08. The company had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. Bentley Systems’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. Research analysts anticipate that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.24 annualized dividend and a yield of 0.49%. Bentley Systems’s payout ratio is currently 21.05%.

Insider Activity

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the completion of the sale, the director now owns 12,148,235 shares in the company, valued at $618,588,126.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Barry J. Bentley sold 34,987 shares of the stock in a transaction dated 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 sale, the director now directly owns 12,213,248 shares in the company, valued at $590,754,805.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the sale, the director now owns 12,148,235 shares of the company’s stock, valued at approximately $618,588,126.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 326,032 shares of company stock valued at $16,168,176. 21.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. The Goldman Sachs Group decreased their price target 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, Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Bentley Systems presently has an average rating of “Moderate Buy” and an average target price of $59.57.

Bentley Systems 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.