Mirabella Financial Services LLP Boosts Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Mirabella Financial Services LLP raised its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 1,155.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,800 shares of the company’s stock after purchasing an additional 92,768 shares during the quarter. Mirabella Financial Services LLP’s holdings in Bentley Systems were worth $5,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Trust N.A. boosted its holdings in Bentley Systems by 25.7% in the third quarter. Raymond James Trust N.A. now owns 5,757 shares of the company’s stock valued at $293,000 after acquiring an additional 1,177 shares during the last quarter. Banco Santander S.A. purchased a new position in shares of Bentley Systems in the 3rd quarter worth about $663,000. Commerce Bank lifted its stake in shares of Bentley Systems by 3.4% in the 3rd quarter. Commerce Bank now owns 145,944 shares of the company’s stock valued at $7,415,000 after purchasing an additional 4,838 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Bentley Systems during the 3rd quarter worth about $287,000. Finally, Quest Partners LLC acquired a new stake in Bentley Systems during the 3rd quarter worth approximately $221,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Piper Sandler upped their price target on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Friday, November 8th. Finally, The Goldman Sachs Group reduced 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. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Insider Activity at Bentley Systems

In other news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Barry J. Bentley sold 34,987 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the sale, the director now directly owns 12,213,248 shares of the company’s stock, valued at approximately $590,754,805.76. This represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock valued at $16,168,176 over the last three months. 21.12% of the stock is owned by insiders.

Bentley Systems Trading Up 1.5 %

NASDAQ:BSY opened at $48.51 on Monday. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. The business’s 50-day simple moving average is $49.30 and its 200 day simple moving average is $49.96. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 4.14 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. Bentley Systems’s dividend payout ratio (DPR) is 21.62%.

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.