TimesSquare Capital Management LLC Lowers Position in Bentley Systems, Incorporated (NASDAQ:BSY)

TimesSquare Capital Management LLC reduced its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 5.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,099,116 shares of the company's stock after selling 62,030 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.38% of Bentley Systems worth $51,329,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clear Harbor Asset Management LLC boosted its stake in 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 period. CIBC Asset Management Inc boosted its stake in Bentley Systems by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 9,203 shares of the company's stock valued at $468,000 after purchasing an additional 378 shares during the period. Venturi Wealth Management LLC boosted its stake in Bentley Systems by 4.3% in the 4th quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company's stock valued at $426,000 after purchasing an additional 380 shares during the period. Diversify Wealth Management LLC boosted its stake in Bentley Systems by 2.2% in the 3rd quarter. Diversify Wealth Management LLC now owns 20,192 shares of the company's stock valued at $993,000 after purchasing an additional 428 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in Bentley Systems by 5.4% in the 4th quarter. Park Avenue Securities LLC now owns 9,138 shares of the company's stock valued at $427,000 after purchasing an additional 467 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the sale, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. This represents a 0.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 21.12% of the company's stock.

Bentley Systems Trading Down 2.0 %

Shares of NASDAQ BSY traded down $0.94 during trading on Friday, reaching $45.59. The company had a trading volume of 946,731 shares, compared to its average volume of 983,943. The company's fifty day moving average price is $46.75 and its 200-day moving average price is $48.41. Bentley Systems, Incorporated has a 12 month low of $43.82 and a 12 month high of $57.19. The stock has a market cap of $13.25 billion, a P/E ratio of 41.07, a PEG ratio of 3.52 and a beta of 1.03. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler dropped their price objective on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. assumed coverage on Bentley Systems in a report on Monday, December 9th. They issued a "neutral" rating and a $52.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $57.00.

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.