Fiera Capital Corp Buys Shares of 841,813 Bentley Systems, Incorporated (NASDAQ:BSY)

Fiera Capital Corp purchased a new position in Bentley Systems, Incorporated (NASDAQ:BSY) during the third quarter, HoldingsChannel.com reports. The fund purchased 841,813 shares of the company’s stock, valued at approximately $42,773,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Portside Wealth Group LLC lifted its holdings in shares of Bentley Systems by 9.1% in the 3rd quarter. Portside Wealth Group LLC now owns 13,203 shares of the company’s stock worth $671,000 after purchasing an additional 1,101 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Bentley Systems by 20.5% in the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after buying an additional 34,871 shares during the last quarter. Impax Asset Management Group plc acquired a new position in shares of Bentley Systems during the third quarter valued at $88,771,000. Cannon Global Investment Management LLC grew its position in shares of Bentley Systems by 47.7% during the third quarter. Cannon Global Investment Management LLC now owns 22,000 shares of the company’s stock worth $1,118,000 after acquiring an additional 7,100 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Bentley Systems by 13.3% in the 3rd quarter. Van ECK Associates Corp now owns 33,096 shares of the company’s stock worth $1,628,000 after acquiring an additional 3,890 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $48.58 on Friday. 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 quick ratio of 0.49 and a current ratio of 0.49. The stock has a fifty day moving average price of $49.54 and a two-hundred day moving average price of $50.44. The firm has a market cap of $14.12 billion, a P/E ratio of 42.61, a PEG ratio of 4.10 and a beta of 1.04.

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

Bentley Systems Dividend Announcement

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

Wall Street Analyst Weigh In

BSY has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Friday. The Goldman Sachs Group cut their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Piper Sandler increased their price target on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Insider Buying and Selling

In related news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the completion of the sale, the director now directly owns 12,048,235 shares in the company, valued at approximately $589,761,103.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Bentley Systems news, Director Barry J. Bentley sold 34,987 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the sale, the director now owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the completion of the transaction, the director now owns 12,048,235 shares of the company’s stock, valued at approximately $589,761,103.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 326,032 shares of company stock worth $16,168,176 in the last ninety days. 21.12% of the stock is currently owned by corporate insiders.

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.