Bridgewater Associates LP grew its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 556,684 shares of the company's stock after acquiring an additional 33,344 shares during the period. Bridgewater Associates LP owned about 0.19% of Bentley Systems worth $28,285,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in BSY. Clear Harbor Asset Management LLC lifted its holdings in Bentley Systems by 1.5% in the third quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company's stock valued at $779,000 after acquiring an additional 220 shares during the period. Advisor OS LLC lifted its stake in shares of Bentley Systems by 0.7% in the second quarter. Advisor OS LLC now owns 30,983 shares of the company's stock valued at $1,529,000 after purchasing an additional 226 shares during the period. Magnolia Capital Advisors LLC boosted its holdings in Bentley Systems by 5.4% during the second quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company's stock worth $242,000 after buying an additional 249 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company's stock worth $28,000 after acquiring an additional 273 shares during the period. Finally, WR Wealth Planners LLC grew its holdings in Bentley Systems by 4.5% in the second quarter. WR Wealth Planners LLC now owns 6,435 shares of the company's stock valued at $318,000 after purchasing an additional 275 shares during the last quarter. 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 stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the transaction, the director now owns 12,298,230 shares of the company's stock, valued at $617,371,146. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Raymond B. Bentley sold 91,045 shares of the business'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 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 sold a total of 326,032 shares of company stock valued at $16,168,176 in the last ninety days. Corporate insiders own 21.12% of the company's stock.
Bentley Systems Stock Down 0.1 %
BSY stock traded down $0.04 during trading on Thursday, reaching $49.18. The stock had a trading volume of 748,979 shares, compared to its average volume of 1,207,263. The firm has a fifty day moving average price of $49.24 and a 200 day moving average price of $49.87. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $14.30 billion, a P/E ratio of 44.31, a PEG ratio of 4.24 and a beta of 1.04. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19.
Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $340.36 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. Bentley Systems's revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.
Bentley Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. Bentley Systems's dividend payout ratio (DPR) is 21.62%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on BSY. Royal Bank of Canada reissued an "outperform" rating and set a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. Piper Sandler raised their price objective on Bentley Systems from $63.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Rosenblatt Securities reiterated a "buy" rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. Finally, The Goldman Sachs Group reduced their target price on shares of Bentley Systems from $57.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.
Check Out Our Latest Stock Report on Bentley Systems
About Bentley Systems
(
Free Report)
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.
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