Daiwa Securities Group Inc. Trims Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Daiwa Securities Group Inc. lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 40.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,386 shares of the company's stock after selling 11,155 shares during the period. Daiwa Securities Group Inc.'s holdings in Bentley Systems were worth $833,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Trust N.A. lifted its position in Bentley Systems by 25.7% in the third quarter. Raymond James Trust N.A. now owns 5,757 shares of the company's stock valued at $293,000 after acquiring an additional 1,177 shares during the last quarter. Banco Santander S.A. acquired a new stake in shares of Bentley Systems in the 3rd quarter valued at about $663,000. Commerce Bank grew its stake in 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 last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Bentley Systems during the third quarter worth approximately $287,000. Finally, Quest Partners LLC purchased a new stake in Bentley Systems in the third quarter valued at approximately $221,000. Hedge funds and other institutional investors own 44.16% of the company's stock.

Bentley Systems Price Performance

Shares of NASDAQ BSY traded up $0.32 during trading on Friday, hitting $49.50. 330,433 shares of the company were exchanged, compared to its average volume of 1,203,467. The firm's fifty day moving average price is $49.23 and its 200 day moving average price is $49.83. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market cap of $14.39 billion, a price-to-earnings ratio of 44.59, a PEG ratio of 4.20 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 released its quarterly earnings data on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting analysts' consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.24 annualized dividend and a yield of 0.48%. Bentley Systems's dividend payout ratio is presently 21.62%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BSY shares. Piper Sandler raised their price target on Bentley Systems from $63.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. The Goldman Sachs Group dropped their target price on Bentley Systems from $57.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $61.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $59.50.

Insider Buying and Selling

In other news, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction that occurred 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 directly 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 document filed 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 that occurred on Tuesday, September 3rd. The stock was 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. This represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 326,032 shares of company stock valued at $16,168,176. 21.12% of the stock is owned by insiders.

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.