Clear Harbor Asset Management LLC Purchases 24,656 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Clear Harbor Asset Management LLC boosted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 160.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,991 shares of the company's stock after purchasing an additional 24,656 shares during the quarter. Clear Harbor Asset Management LLC's holdings in Bentley Systems were worth $1,868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new stake in shares of Bentley Systems during the third quarter valued at approximately $30,000. Central Pacific Bank Trust Division increased its holdings in Bentley Systems by 57.1% in the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company's stock valued at $39,000 after buying an additional 276 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Bentley Systems by 500.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company's stock valued at $61,000 after buying an additional 1,000 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Bentley Systems by 49.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,342 shares of the company's stock valued at $66,000 after buying an additional 442 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Bentley Systems by 71.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,105 shares of the company's stock worth $107,000 after acquiring an additional 880 shares during the period. Institutional investors and hedge funds own 44.16% of the company's stock.

Bentley Systems Price Performance

Shares of BSY traded up $0.74 on Tuesday, hitting $46.18. The company's stock had a trading volume of 1,485,325 shares, compared to its average volume of 1,213,510. The company has a 50 day moving average price of $47.70 and a 200 day moving average price of $48.74. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The company has a market capitalization of $13.42 billion, a PE ratio of 41.60, a PEG ratio of 3.40 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

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

Bentley Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.52%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems's payout ratio is presently 21.62%.

Insiders Place Their Bets

In related news, Director Keith A. Bentley sold 69,573 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total value of $3,246,971.91. Following the transaction, the director now owns 16,705,028 shares in the company, valued at $779,623,656.76. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the business'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 sale, the director now directly owns 12,048,235 shares of the company's stock, valued at $589,761,103.25. This represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.12% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on BSY shares. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a research note on Monday, December 9th. They issued a "neutral" rating and a $52.00 target price on the stock. Piper Sandler lowered their price objective on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Finally, Rosenblatt Securities restated a "buy" rating and set a $62.00 target price on shares of Bentley Systems in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.29.

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.