Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 19.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,009,354 shares of the company's stock after selling 749,427 shares during the period. Geode Capital Management LLC owned 1.04% of Bentley Systems worth $152,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its holdings in Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company's stock valued at $26,000 after purchasing an additional 508 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Bentley Systems during the third quarter valued at approximately $30,000. Blue Trust Inc. grew its stake 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 valued at $36,000 after buying an additional 685 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company's stock worth $39,000 after buying an additional 276 shares during the period. Finally, Tortoise Investment Management LLC lifted its stake in shares of Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company's stock worth $41,000 after acquiring an additional 358 shares during the last quarter. 44.16% of the stock is owned by institutional investors.

Bentley Systems Stock Up 1.1 %

Shares of Bentley Systems stock traded up $0.51 during trading on Tuesday, hitting $48.54. 893,072 shares of the stock traded hands, compared to its average volume of 1,192,362. 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 stock's fifty day simple moving average is $48.98 and its 200 day simple moving average is $49.33. The firm has a market cap of $14.11 billion, a P/E ratio of 43.73, a price-to-earnings-growth ratio of 4.04 and a beta of 1.03. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its 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 net margin of 27.73% and a return on equity of 29.50%. The business had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. During the same quarter last year, the firm posted $0.18 EPS. The company's revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems's dividend payout ratio (DPR) is 21.62%.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $48.95, for a total value of $2,447,500.00. Following the transaction, the director now owns 12,048,235 shares of the company's stock, valued at $589,761,103.25. The trade was a 0.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 234,987 shares of company stock worth $11,667,821 over the last 90 days. Company insiders own 21.12% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on BSY shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $62.00 price objective on shares of Bentley Systems in a research report on Friday, November 8th. Piper Sandler upped their price target on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Finally, 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 price target on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $58.43.

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.