Central Pacific Bank Trust Division Buys 276 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Central Pacific Bank Trust Division lifted its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 57.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 759 shares of the company’s stock after acquiring an additional 276 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Bentley Systems were worth $39,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in BSY. Allspring Global Investments Holdings LLC lifted its position in shares of Bentley Systems by 4,618.2% during the 2nd 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 last quarter. GAMMA Investing LLC lifted 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 purchasing an additional 273 shares during the last quarter. Blue Trust Inc. lifted its position in shares of 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 purchasing an additional 685 shares during the last quarter. Tortoise Investment Management LLC lifted its position in shares of Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after purchasing an additional 358 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Bentley Systems during the 2nd quarter worth about $43,000. Institutional investors own 44.16% of the company’s stock.

Insider Transactions at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction dated 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 owns 16,598,656 shares in the company, valued at $820,471,566.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.20, for a total value of $2,510,000.00. Following the sale, the director now directly owns 12,298,230 shares in the company, valued at approximately $617,371,146. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bentley Systems Price Performance

Bentley Systems stock traded down $0.45 during mid-day trading on Friday, hitting $48.88. 521,472 shares of the company were exchanged, compared to its average volume of 1,270,013. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. The business has a fifty day moving average of $49.36 and a 200 day moving average of $50.61. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19. The company has a market capitalization of $14.10 billion, a PE ratio of 45.68, a price-to-earnings-growth ratio of 4.19 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the company posted $0.20 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, sell-side analysts expect that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Tuesday, September 17th. Bentley Systems’s payout ratio is presently 22.43%.

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.