HighTower Advisors LLC Reduces Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

HighTower Advisors LLC lowered its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,589 shares of the company’s stock after selling 257 shares during the period. HighTower Advisors LLC’s holdings in Bentley Systems were worth $740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BSY. Allspring Global Investments Holdings LLC lifted its position 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 stake in shares of Bentley Systems in the 3rd quarter valued at approximately $30,000. Blue Trust Inc. lifted 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 worth $36,000 after acquiring an additional 685 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in shares of Bentley Systems by 57.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares during the period. Finally, Tortoise Investment Management LLC increased its holdings 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. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

BSY has been the topic of a number of research reports. Piper Sandler upped their price target on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Rosenblatt Securities reissued a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. began coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.43.

Insider Activity

In other news, Director Barry J. Bentley sold 34,987 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the completion of the transaction, the director now directly owns 12,213,248 shares of the company’s stock, valued at approximately $590,754,805.76. This represents a 0.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 234,987 shares of company stock worth $11,667,821. 21.12% of the stock is currently owned by corporate insiders.

Bentley Systems Trading Down 2.8 %

NASDAQ:BSY opened at $47.18 on Thursday. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The firm has a market cap of $13.72 billion, a PE ratio of 42.50, a price-to-earnings-growth ratio of 4.04 and a beta of 1.03. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The stock has a fifty day moving average price of $48.94 and a 200 day moving average price of $49.31.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The business had revenue of $335.17 million during the quarter, compared to analysts’ expectations of $340.36 million. During the same quarter last year, the business posted $0.18 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is presently 21.62%.

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.