Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 6.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 882,087 shares of the company’s stock after selling 58,840 shares during the quarter. Clearbridge Investments LLC owned 0.31% of Bentley Systems worth $43,540,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of 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 buying an additional 508 shares in the last quarter. GAMMA Investing LLC boosted its stake in Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after acquiring an additional 273 shares during the last quarter. Blue Trust Inc. grew its holdings in Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after acquiring an additional 685 shares in the last quarter. Tortoise Investment Management LLC raised its stake 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. Finally, Acadian Asset Management LLC acquired a new stake in shares of Bentley Systems in the 2nd quarter valued at about $43,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSY has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and issued a $63.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. The Goldman Sachs Group dropped their price target on 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, Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Monday, September 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and an average target price of $59.57.

Bentley Systems Trading Down 1.1 %

NASDAQ:BSY opened at $49.33 on Friday. The firm has a market capitalization of $14.23 billion, a P/E ratio of 46.10, a P/E/G ratio of 4.19 and a beta of 1.03. The business has a 50 day simple moving average of $49.36 and a 200 day simple moving average of $50.61. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.49 and a quick ratio of 0.49. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19.

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

Bentley Systems Dividend Announcement

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 $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 22.43%.

Insider Buying and Selling at Bentley Systems

In other news, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the transaction, the director now directly owns 12,298,230 shares in the company, valued at $617,371,146. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction dated 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 sale, the director now directly owns 12,298,230 shares in the company, valued at $617,371,146. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the transaction, the director now owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The disclosure for this sale can be found here. 21.12% of the stock is owned by company insiders.

Bentley Systems 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.