Traders Purchase High Volume of Call Options on Bentley Systems (NASDAQ:BSY)

Bentley Systems, Incorporated (NASDAQ:BSY) was the recipient of unusually large options trading on Wednesday. Stock traders bought 10,130 call options on the stock. This is an increase of 3,584% compared to the average daily volume of 275 call options.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BSY. Los Angeles Capital Management LLC purchased a new stake in Bentley Systems in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. increased its holdings in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after acquiring an additional 627 shares during the period. Physician Wealth Advisors Inc. increased its holdings in shares of Bentley Systems by 80.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 791 shares of the company’s stock valued at $28,000 after acquiring an additional 352 shares during the period. Royal London Asset Management Ltd. purchased a new stake in Bentley Systems in the 4th quarter valued at $32,000. Finally, Pekao Towarzystwo Funduszy Inwestycyjnych S.A. purchased a new stake in Bentley Systems in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Up 6.4%

NASDAQ BSY traded up $1.91 during trading on Wednesday, reaching $31.80. 1,429,167 shares of the company’s stock were exchanged, compared to its average volume of 3,002,343. The stock has a market cap of $9.29 billion, a P/E ratio of 36.01, a price-to-earnings-growth ratio of 1.91 and a beta of 1.00. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.51 and a current ratio of 0.51. The company has a 50 day moving average price of $32.08 and a two-hundred day moving average price of $35.16. Bentley Systems has a 1 year low of $28.08 and a 1 year high of $59.25.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $424.18 million for the quarter, compared to the consensus estimate of $419.80 million. Bentley Systems had a return on equity of 28.65% and a net margin of 18.12%.The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 EPS. On average, equities research analysts anticipate that Bentley Systems will post 1.2 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were given a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.9%. Bentley Systems’s dividend payout ratio is 31.82%.

Wall Street Analysts Forecast Growth

BSY has been the topic of a number of analyst reports. BNP Paribas Exane started coverage on Bentley Systems in a research report on Thursday, June 18th. They issued an “outperform” rating and a $40.00 price target on the stock. Weiss Ratings lowered shares of Bentley Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. Barclays cut their target price on shares of Bentley Systems from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, May 29th. Piper Sandler upgraded shares of Bentley Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $42.00 to $45.00 in a research note on Friday, May 8th. Finally, Bank of America initiated coverage on shares of Bentley Systems in a report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.50.

About Bentley Systems

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.