Bar Harbor Wealth Management Purchases Shares of 180,140 Bentley Systems, Incorporated (NASDAQ:BSY)

Bar Harbor Wealth Management purchased a new stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 180,140 shares of the company's stock, valued at approximately $8,413,000. Bar Harbor Wealth Management owned approximately 0.06% of Bentley Systems as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clear Harbor Asset Management LLC increased its stake in shares of Bentley Systems by 1.5% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company's stock valued at $779,000 after purchasing an additional 220 shares during the last quarter. Magnolia Capital Advisors LLC boosted its stake in Bentley Systems by 5.4% in the second quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company's stock valued at $242,000 after buying an additional 249 shares in the last quarter. Central Pacific Bank Trust Division grew its position in Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company's stock valued at $39,000 after acquiring an additional 276 shares during the last quarter. Cetera Investment Advisers raised its stake in Bentley Systems by 1.1% during the second quarter. Cetera Investment Advisers now owns 31,449 shares of the company's stock worth $1,552,000 after acquiring an additional 352 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Bentley Systems by 4.3% in the third quarter. CIBC Asset Management Inc now owns 9,203 shares of the company's stock worth $468,000 after acquiring an additional 378 shares during the last quarter. Institutional investors own 44.16% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BSY. Piper Sandler decreased their price target on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a research note on Monday, December 9th. They set a "neutral" rating and a $52.00 target price on the stock. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $62.00 price target 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 assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.29.

Bentley Systems Trading Down 1.1 %

Shares of NASDAQ:BSY traded down $0.50 during mid-day trading on Monday, reaching $45.36. 931,407 shares of the company's stock were exchanged, compared to its average volume of 896,044. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 4.04 and a beta of 1.04. The business's fifty day moving average price is $48.06 and its 200-day moving average price is $48.86.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. On average, research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems's dividend payout ratio is presently 21.62%.

Insiders Place Their Bets

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction on Monday, October 21st. The shares were sold at an average price of $49.44, for a total value of $2,472,000.00. Following the completion of the sale, the director now directly owns 12,098,235 shares of the company's stock, valued at approximately $598,136,738.40. The trade was a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Keith A. Bentley sold 69,573 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the transaction, the director now directly owns 16,705,028 shares in the company, valued at $779,623,656.76. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 169,573 shares of company stock worth $8,166,472. 21.12% of the stock is currently owned by insiders.

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.