Natixis Advisors LLC Sells 11,008 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Natixis Advisors LLC trimmed its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 29.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,932 shares of the company’s stock after selling 11,008 shares during the period. Natixis Advisors LLC’s holdings in Bentley Systems were worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BSY. International Assets Investment Management LLC acquired a new stake in Bentley Systems during the 3rd quarter worth approximately $59,400,000. Montanaro Asset Management Ltd lifted its holdings in shares of Bentley Systems by 8.8% during the third quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock worth $16,839,000 after buying an additional 26,741 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Bentley Systems in the first quarter valued at about $608,000. Clearline Capital LP bought a new stake in shares of Bentley Systems in the second quarter valued at about $6,999,000. Finally, Impax Asset Management Group plc acquired a new position in shares of Bentley Systems in the third quarter valued at about $88,771,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Performance

Shares of BSY stock opened at $49.22 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $14.31 billion, a price-to-earnings ratio of 44.34, a P/E/G ratio of 4.14 and a beta of 1.04. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The firm’s 50-day simple moving average is $49.29 and its two-hundred day simple moving average is $49.88.

Bentley Systems (NASDAQ:BSY) last issued 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 29.50%. The firm had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. During the same quarter last year, the business earned $0.18 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is 21.62%.

Insider Activity at Bentley Systems

In related news, Director Barry J. Bentley sold 34,987 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 12,213,248 shares in the company, valued at $590,754,805.76. This trade represents a 0.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction on 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 completion of the transaction, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The trade was a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 326,032 shares of company stock valued at $16,168,176 over the last three months. 21.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.