Atria Investments Inc Has $4.24 Million Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Atria Investments Inc lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,506 shares of the company’s stock after selling 3,457 shares during the period. Atria Investments Inc’s holdings in Bentley Systems were worth $4,243,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in Bentley Systems by 4,618.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after purchasing an additional 508 shares during the period. GAMMA Investing LLC boosted its position in shares of Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after acquiring an additional 273 shares in the last quarter. Blue Trust Inc. increased its stake in Bentley Systems by 68,500.0% in the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after acquiring an additional 685 shares during the last quarter. Central Pacific Bank Trust Division raised its position in Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after purchasing an additional 276 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its holdings in shares of Bentley Systems by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after purchasing an additional 358 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BSY. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group cut their target price on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Piper Sandler upped their price target on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Bentley Systems presently has an average rating of “Moderate Buy” and an average price target of $59.50.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction on Monday, October 28th. The shares were sold at an average price of $48.95, for a total value of $2,447,500.00. Following the completion of the sale, the director now owns 12,048,235 shares in the company, valued at $589,761,103.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $48.95, for a total value of $2,447,500.00. Following the completion of the sale, the director now directly owns 12,048,235 shares of the company’s stock, valued at $589,761,103.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 326,032 shares of company stock worth $16,168,176. Corporate insiders own 21.12% of the company’s stock.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $49.40 on Wednesday. The company has a market capitalization of $14.36 billion, a PE ratio of 44.50, a P/E/G ratio of 4.06 and a beta of 1.04. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. 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 company has a 50 day simple moving average of $49.43 and a two-hundred day simple moving average of $50.31.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 30.29%. The business had revenue of $335.17 million during the quarter, compared to the consensus estimate of $340.36 million. During the same quarter last year, the firm earned $0.18 earnings per share. Bentley Systems’s quarterly revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

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.