Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,589 shares of the company’s stock after selling 257 shares during the quarter. HighTower Advisors LLC’s holdings in Bentley Systems were worth $740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its stake in Bentley Systems by 4,618.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after buying an additional 508 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Bentley Systems during the third quarter worth approximately $30,000. Blue Trust Inc. increased its holdings in shares of Bentley Systems by 68,500.0% in the 2nd 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 period. Central Pacific Bank Trust Division raised its position in Bentley Systems by 57.1% in the 3rd 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 during the last quarter. Finally, Tortoise Investment Management LLC raised its position in 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 during the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the transaction, the director now directly owns 12,048,235 shares in the company, valued at approximately $589,761,103.25. This represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 234,987 shares of company stock valued at $11,667,821 in the last ninety days. 21.12% of the stock is currently owned by company insiders.

Bentley Systems Stock Down 2.8 %

Shares of NASDAQ:BSY opened at $47.18 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a market cap of $13.72 billion, a price-to-earnings ratio of 42.50, a PEG ratio of 4.04 and a beta of 1.03. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The firm’s 50-day simple moving average is $48.94 and its 200-day simple moving average is $49.31.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. As a group, equities research analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.51%. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Piper Sandler raised their price objective on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. began coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus target price of $58.43.

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.