Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. trimmed its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 23.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,539 shares of the company's stock after selling 11,583 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Bentley Systems were worth $1,753,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Impax Asset Management Group plc acquired a new stake in Bentley Systems during the third quarter worth $88,771,000. Swedbank AB increased its position in shares of Bentley Systems by 24.2% during the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company's stock worth $260,874,000 after purchasing an additional 1,000,000 shares during the last quarter. Fiera Capital Corp purchased a new stake in Bentley Systems in the 3rd quarter valued at about $42,773,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Bentley Systems by 3.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company's stock valued at $778,832,000 after buying an additional 586,458 shares during the period. Finally, Creative Planning lifted its position in Bentley Systems by 67.9% in the second quarter. Creative Planning now owns 1,091,058 shares of the company's stock valued at $53,855,000 after buying an additional 441,316 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Down 1.1 %

NASDAQ:BSY traded down $0.49 during mid-day trading on Monday, hitting $45.37. The stock had a trading volume of 288,065 shares, compared to its average volume of 798,925. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. The stock has a 50-day simple moving average of $48.14 and a two-hundred day simple moving average of $48.89. The company has a market capitalization of $13.19 billion, a PE ratio of 40.87, a PEG ratio of 4.04 and a beta of 1.04. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

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 the consensus estimate of $0.24. The firm had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. Bentley Systems's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. On average, equities research analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems's dividend payout ratio (DPR) is 21.62%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $49.44, for a total transaction of $2,472,000.00. Following the transaction, the director now owns 12,098,235 shares of the company's stock, valued at $598,136,738.40. The trade was a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Keith A. Bentley sold 69,573 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the sale, the director now directly owns 16,705,028 shares of the company's stock, valued at $779,623,656.76. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 169,573 shares of company stock worth $8,166,472 over the last three months. Insiders own 21.12% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on BSY shares. Rosenblatt Securities restated a "buy" rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Friday, November 8th. Piper Sandler lowered their target price on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research note on Monday, December 9th. They set 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 stock. According to MarketBeat.com, Bentley Systems presently has a consensus rating of "Moderate Buy" and an average price target of $57.29.

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.