Baldwin Investment Management LLC Has $1.62 Million Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Baldwin Investment Management LLC lowered its stake in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 24.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,935 shares of the company's stock after selling 10,350 shares during the period. Baldwin Investment Management LLC's holdings in Bentley Systems were worth $1,623,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Swedbank AB boosted its stake in shares of Bentley Systems by 514.5% in the 2nd quarter. Swedbank AB now owns 4,134,295 shares of the company's stock valued at $204,069,000 after purchasing an additional 3,461,500 shares during the last quarter. Impax Asset Management Group plc acquired a new position in Bentley Systems in the third quarter valued at approximately $88,771,000. Fiera Capital Corp bought a new position in Bentley Systems in the third quarter valued at approximately $42,773,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Bentley Systems by 3.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company's stock worth $778,832,000 after acquiring an additional 586,458 shares during the period. Finally, Creative Planning raised its position in shares of Bentley Systems by 67.9% during the 2nd quarter. Creative Planning now owns 1,091,058 shares of the company's stock valued at $53,855,000 after acquiring an additional 441,316 shares during the last quarter. Institutional investors own 44.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BSY shares. 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. Royal Bank of Canada restated an "outperform" rating and set a $61.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. The Goldman Sachs Group decreased their target price 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. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $62.00 price target on shares of Bentley Systems in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Bentley Systems presently has an average rating of "Moderate Buy" and an average price target of $59.50.

Bentley Systems Stock Down 0.1 %

Shares of BSY traded down $0.04 on Wednesday, hitting $49.18. The company's stock had a trading volume of 748,979 shares, compared to its average volume of 1,207,263. 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 firm has a market capitalization of $14.30 billion, a price-to-earnings ratio of 44.31, a P/E/G ratio of 4.24 and a beta of 1.04. The firm's fifty day moving average price is $49.27 and its 200-day moving average price is $49.87. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. During the same quarter last year, the business posted $0.18 EPS. The company's revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. Bentley Systems's dividend payout ratio is currently 21.62%.

Insider Activity

In related 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 sale, the director now owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. This represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond B. Bentley sold 91,045 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of the transaction, the director now owns 16,598,656 shares of the company's stock, valued at approximately $820,471,566.08. This represents 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 worth $16,168,176 over the last ninety days. Insiders own 21.12% of the company's stock.

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.