Brown Capital Management LLC Trims Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Brown Capital Management LLC lessened its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 73.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,121 shares of the company's stock after selling 57,867 shares during the quarter. Brown Capital Management LLC's holdings in Bentley Systems were worth $1,073,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BSY. Commerce Bank grew its position in shares of Bentley Systems by 3.4% during the 3rd quarter. Commerce Bank now owns 145,944 shares of the company's stock worth $7,415,000 after buying an additional 4,838 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Bentley Systems in the 3rd quarter valued at $287,000. Quest Partners LLC purchased a new position in Bentley Systems during the third quarter worth about $221,000. Swiss National Bank grew its stake in Bentley Systems by 0.7% in the 3rd quarter. Swiss National Bank now owns 470,900 shares of the company's stock valued at $23,926,000 after purchasing an additional 3,400 shares during the period. Finally, Mizuho Markets Americas LLC raised its position in Bentley Systems by 5.7% in the third quarter. Mizuho Markets Americas LLC now owns 550,157 shares of the company's stock worth $27,953,000 after acquiring an additional 29,473 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $48.95, for a total value of $2,447,500.00. Following the completion of the sale, the director now owns 12,048,235 shares of the company's stock, valued at approximately $589,761,103.25. This trade represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction that occurred 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 sale, the director now owns 16,598,656 shares of the company's stock, valued at $820,471,566.08. This trade represents a 0.55 % 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 quarter. Company insiders own 21.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BSY shares. Piper Sandler upped their price target on shares of Bentley Systems from $63.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Rosenblatt Securities reiterated a "buy" rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Friday, November 8th. The Goldman Sachs Group lowered their price target on shares of Bentley Systems from $57.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed 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 assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $59.50.

Bentley Systems Stock Up 2.5 %

Shares of Bentley Systems stock traded up $1.16 on Thursday, reaching $47.85. The company's stock had a trading volume of 1,258,896 shares, compared to its average volume of 1,211,389. The company has a market capitalization of $13.91 billion, a price-to-earnings ratio of 43.11, a P/E/G ratio of 3.99 and a beta of 1.04. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The firm's fifty day simple moving average is $49.32 and its two-hundred day simple moving average is $50.06.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $335.17 million for the quarter, compared to analysts' expectations of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $0.18 earnings per share. Equities analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Tuesday, September 17th. Bentley Systems's dividend payout ratio is currently 21.62%.

Bentley Systems Company 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.