Conestoga Capital Advisors LLC Purchases 2,035 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Conestoga Capital Advisors LLC grew its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 32.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Bentley Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after acquiring an additional 134,516 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Bentley Systems by 3.9% in 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 during the period. Swedbank AB raised its position in shares of Bentley Systems by 24.2% during the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock valued at $260,874,000 after buying an additional 1,000,000 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Bentley Systems by 41.8% during the third quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock valued at $67,222,000 after acquiring an additional 390,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Bentley Systems by 7.5% in the second quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company’s stock worth $60,839,000 after purchasing an additional 85,565 shares during the last quarter. 44.16% of the stock is owned by institutional investors.

Insider Buying and Selling at Bentley Systems

In related news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the completion of the sale, the director now owns 12,298,230 shares of the company’s stock, valued at approximately $617,371,146. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the transaction, the director now directly owns 12,298,230 shares in the company, valued at approximately $617,371,146. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Barry J. Bentley sold 34,987 shares of Bentley Systems stock in a transaction on 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 completion of the transaction, the director now owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock worth $16,168,176 over the last 90 days. 21.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BSY shares. The Goldman Sachs Group dropped their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research report on Monday, September 16th. 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $63.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.57.

Bentley Systems Stock Performance

NASDAQ BSY traded up $0.64 on Friday, hitting $48.90. 118,032 shares of the company traded hands, compared to its average volume of 1,209,293. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average price is $49.68 and its 200-day moving average price is $50.46. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of 42.33, a P/E/G ratio of 4.14 and a beta of 1.03. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19.

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

Bentley Systems Announces Dividend

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

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.