Signaturefd Expands Stake in Bentley Systems by 26.2%

Signaturefd LLC has significantly increased its investment in Bentley Systems, Incorporated, raising its stake by 26.2% during the second quarter of 2023. According to the firm’s most recent 13F filing with the Securities and Exchange Commission, Signaturefd now holds a total of 3,660 shares of Bentley Systems, valued at approximately $198,000.

This adjustment comes amid a broader trend of institutional investors modifying their holdings in Bentley Systems. Notably, Vanguard Group Inc. raised its stake by 5.3% in the first quarter, now owning 17,999,856 shares worth around $708.1 million after acquiring an additional 898,115 shares. Other firms, such as Kayne Anderson Rudnick Investment Management LLC and Swedbank AB, have also increased their stakes, reflecting growing confidence in the company.

Bentley Systems has demonstrated robust performance, with a market capitalization of $16.34 billion. As of the close of trading on Friday, its shares opened at $55.95. The company has shown a consistent upward trajectory, with a 10.2% increase in revenue year-over-year, reporting $364.11 million for the latest quarter. Its earnings per share (EPS) of $0.32 surpassed analyst expectations of $0.29.

Dividend and Analyst Ratings

In addition to its strong financial performance, Bentley Systems recently announced a quarterly dividend of $0.07 per share, which was paid out on September 30, 2023. This dividend translates to an annualized amount of $0.28 and a yield of approximately 0.5%. The company’s payout ratio stands at 35.44%, indicating a balanced approach to returning value to shareholders while reinvesting in growth.

Wall Street analysts have expressed optimism regarding Bentley Systems’ future. Several research reports have targeted the company’s stock, with KeyCorp raising its price target from $56.00 to $59.00 and assigning an “overweight” rating. Similarly, Oppenheimer increased its target from $59.00 to $65.00, reflecting a positive outlook. Currently, analysts rate the stock as a “Moderate Buy” with an average target price of $56.60, highlighting a consensus that supports further investment.

Insider Activity and Company Overview

Recent insider trading activity has also drawn attention. Insider David R. Shaman sold 19,348 shares on July 14, 2023, at an average price of $56.96, resulting in a transaction value of approximately $1.1 million. Following this sale, he retained 647,609 shares of the company. Additionally, Director Keith A. Bentley sold 150,000 shares for around $8.33 million on July 7, 2023. This indicates a slight reduction in their ownership while still demonstrating confidence in the company’s prospects.

Bentley Systems, Incorporated specializes in providing infrastructure engineering software solutions across various regions, including the Americas, Europe, the Middle East, Africa, and Asia-Pacific. The company’s offerings include a range of applications for open modeling, simulation, and geoprofessional services, which are essential for modern infrastructure projects.

As the company continues to evolve, the increase in institutional investment and positive analyst ratings suggest a solid foundation for growth, making it a noteworthy player in the technology sector.