Charles Schwab Investment Management Inc. lowered its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 29.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,037,332 shares of the company's stock after selling 431,743 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.36% of Bentley Systems worth $52,707,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Bentley Systems by 4,618.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company's stock worth $26,000 after purchasing an additional 508 shares during the period. GAMMA Investing LLC boosted its position in shares of Bentley Systems by 90.1% during the second quarter. GAMMA Investing LLC now owns 576 shares of the company's stock worth $28,000 after acquiring an additional 273 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Bentley Systems by 68,500.0% during the second quarter. Blue Trust Inc. now owns 686 shares of the company's stock worth $36,000 after acquiring an additional 685 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company's stock valued at $39,000 after acquiring an additional 276 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its holdings in Bentley Systems by 75.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company's stock valued at $41,000 after acquiring an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company's stock.
Insider Activity
In other news, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the sale, the director now owns 12,298,230 shares in the company, valued at $617,371,146. This represents a 0.40 % 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 Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction dated 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 transaction, the director now owns 16,598,656 shares of the company's stock, valued at $820,471,566.08. The trade was a 0.55 % decrease in their position. 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. 21.12% of the stock is currently owned by corporate insiders.
Bentley Systems Stock Up 0.7 %
Shares of Bentley Systems stock traded up $0.32 on Friday, reaching $49.50. The stock had a trading volume of 330,433 shares, compared to its average volume of 1,070,974. 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 stock has a market capitalization of $14.39 billion, a P/E ratio of 44.59, a P/E/G ratio of 4.23 and a beta of 1.04. The company has a 50 day moving average price of $49.23 and a 200 day moving average price of $49.79. 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 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.24. The business had revenue of $335.17 million for 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%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. As a group, equities research analysts forecast 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 of this dividend is Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. Bentley Systems's payout ratio is 21.62%.
Analyst Ratings Changes
BSY has been the subject of a number of research analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased their price target on shares of Bentley Systems from $57.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Piper Sandler boosted their target price on Bentley Systems from $63.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.
Get Our Latest Report on BSY
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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