Geneva Capital Management LLC Has $6.77 Million Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Geneva Capital Management LLC cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 12.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 133,235 shares of the company's stock after selling 18,091 shares during the quarter. Geneva Capital Management LLC's holdings in Bentley Systems were worth $6,770,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Bentley Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company's stock worth $1,162,002,000 after purchasing an additional 134,516 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of 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 purchasing an additional 586,458 shares in the last quarter. Swedbank AB raised its stake in shares of Bentley Systems by 24.2% during the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company's stock worth $260,874,000 after purchasing an additional 1,000,000 shares in the last quarter. Impax Asset Management Group plc bought a new stake in shares of Bentley Systems during the 3rd quarter worth approximately $88,771,000. Finally, Handelsbanken Fonder AB raised its stake in shares of Bentley Systems by 41.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company's stock worth $67,222,000 after purchasing an additional 390,000 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bentley Systems

In other news, Director Barry J. Bentley sold 50,000 shares of the business's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the sale, the director now directly owns 12,148,235 shares in the company, valued at approximately $618,588,126.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Barry J. Bentley sold 34,987 shares of Bentley Systems stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $48.37, for a total value of $1,692,321.19. Following the transaction, the director now directly owns 12,213,248 shares of the company's stock, valued at $590,754,805.76. The trade was 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 through the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $50.92, for a total value of $2,546,000.00. Following the completion of the transaction, the director now directly owns 12,148,235 shares in the company, valued at approximately $618,588,126.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 326,032 shares of company stock worth $16,168,176 over the last 90 days. Insiders own 21.12% of the company's stock.

Bentley Systems Stock Performance

Shares of BSY traded down $0.58 during midday trading on Wednesday, reaching $48.82. 214,902 shares of the stock were exchanged, compared to its average volume of 1,210,955. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. 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 company has a market cap of $14.19 billion, a P/E ratio of 44.03, a PEG ratio of 4.13 and a beta of 1.04. The stock's 50 day simple moving average is $49.44 and its 200 day simple moving average is $50.28.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting analysts' consensus estimates of $0.24. The business had revenue of $335.17 million during 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%. Bentley Systems's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. On average, 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. Shareholders of record on Tuesday, September 17th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Tuesday, September 17th. Bentley Systems's dividend payout ratio is presently 21.62%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Piper Sandler upped their price objective 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 restated a "buy" rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th. The Goldman Sachs Group dropped their price target on Bentley Systems from $57.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $61.00 price target 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 given a buy rating to the company's stock. According to MarketBeat.com, Bentley Systems has an average rating of "Moderate Buy" and a consensus price target of $59.50.

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.