Park Avenue Securities LLC Sells 971 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Park Avenue Securities LLC lowered its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 10.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,671 shares of the company’s stock after selling 971 shares during the quarter. Park Avenue Securities LLC’s holdings in Bentley Systems were worth $441,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of Bentley Systems by 933.6% during the third quarter. SG Americas Securities LLC now owns 28,279 shares of the company’s stock worth $1,437,000 after purchasing an additional 25,543 shares in the last quarter. Central Pacific Bank Trust Division grew its position in shares of Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Bentley Systems during the second quarter worth about $3,976,000. Cetera Investment Advisers grew its position in shares of Bentley Systems by 1.1% during the second quarter. Cetera Investment Advisers now owns 31,449 shares of the company’s stock worth $1,552,000 after purchasing an additional 352 shares in the last quarter. Finally, Ecofi Investissements SA purchased a new stake in shares of Bentley Systems during the second quarter worth about $4,227,000. Institutional investors own 44.16% of the company’s stock.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the sale, the director now directly owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction on Tuesday, September 3rd. The stock was 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $1,692,321.19. Following the completion of the transaction, the director now owns 12,213,248 shares in the company, valued at $590,754,805.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 176,032 shares of company stock valued at $8,702,676 in the last ninety days. Corporate insiders own 21.12% of the company’s stock.

Analysts Set New Price Targets

BSY has been the subject of several research analyst reports. Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Monday, September 16th. The Goldman Sachs Group cut their price target on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Piper Sandler restated an “overweight” rating and set a $63.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.57.

Bentley Systems Price Performance

Shares of Bentley Systems stock opened at $50.65 on Friday. The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 44.43, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a 50 day moving average price of $49.51 and a 200-day moving average price of $50.54. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19.

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

Bentley Systems Announces Dividend

The company also recently announced 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. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is presently 21.05%.

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.