Laurion Capital Management LP Grows Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Laurion Capital Management LP grew its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 396.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,621 shares of the company’s stock after buying an additional 39,621 shares during the quarter. Laurion Capital Management LP’s holdings in Bentley Systems were worth $3,214,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Natixis purchased a new position in Bentley Systems during the 2nd quarter worth $407,000. APG Asset Management N.V. acquired a new position in shares of Bentley Systems during the 2nd quarter worth $841,000. LPL Financial LLC grew its stake in shares of Bentley Systems by 33.1% during the 2nd quarter. LPL Financial LLC now owns 18,220 shares of the company’s stock worth $1,180,000 after purchasing an additional 4,536 shares during the period. Franklin Resources Inc. grew its stake in shares of Bentley Systems by 58.4% during the 2nd quarter. Franklin Resources Inc. now owns 366,242 shares of the company’s stock worth $23,725,000 after purchasing an additional 134,995 shares during the period. Finally, Stifel Financial Corp grew its stake in shares of Bentley Systems by 7.3% during the 2nd quarter. Stifel Financial Corp now owns 206,239 shares of the company’s stock worth $13,360,000 after purchasing an additional 14,020 shares during the period. Institutional investors own 32.44% of the company’s stock.

In other Bentley Systems news, EVP Raymond B. Bentley sold 118,608 shares of the business’s stock in a transaction that occurred on Wednesday, July 28th. The stock was sold at an average price of $60.12, for a total transaction of $7,130,712.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barry J. Bentley sold 166,051 shares of the company’s stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $59.18, for a total value of $9,826,898.18. Following the completion of the transaction, the director now owns 13,255,508 shares in the company, valued at approximately $784,460,963.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 622,920 shares of company stock valued at $37,337,943. Insiders own 24.00% of the company’s stock.

BSY has been the topic of a number of research reports. Griffin Securities began coverage on shares of Bentley Systems in a research note on Friday, July 16th. They issued a “neutral” rating and a $59.47 price objective on the stock. KeyCorp increased their price objective on shares of Bentley Systems from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, August 11th. Royal Bank of Canada raised their price target on shares of Bentley Systems from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, August 9th. Robert W. Baird increased their price objective on shares of Bentley Systems from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, July 22nd. Finally, Zacks Investment Research downgraded shares of Bentley Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $57.61.

BSY traded up $0.96 on Thursday, hitting $58.16. The company had a trading volume of 13,857 shares, compared to its average volume of 1,973,275. The company’s fifty day moving average price is $63.83 and its 200 day moving average price is $59.07. Bentley Systems, Incorporated has a 1-year low of $31.14 and a 1-year high of $71.92. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $15.73 billion and a price-to-earnings ratio of 80.83.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Monday, August 9th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. Bentley Systems had a return on equity of 74.37% and a net margin of 18.38%. The company had revenue of $222.90 million for the quarter, compared to analyst estimates of $213.45 million. The company’s quarterly revenue was up 20.9% on a year-over-year basis. On average, sell-side analysts forecast that Bentley Systems, Incorporated will post 0.64 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 9th. Shareholders of record on Wednesday, September 1st were paid a $0.03 dividend. The ex-dividend date was Tuesday, August 31st. This represents a $0.12 dividend on an annualized basis and a yield of 0.21%. Bentley Systems’s dividend payout ratio is 21.43%.

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenWindPower, OpenTower, STAAD and RAM, LEAP and RM, SACS, MOSES, PLAXIS, SITEOPS, AutoPIPE, and LumenRT.

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Institutional Ownership by Quarter for Bentley Systems (NASDAQ:BSY)

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