Paloma Partners Management Co Has $1.91 Million Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Paloma Partners Management Co trimmed its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 99.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,487 shares of the company's stock after selling 9,202,521 shares during the period. Paloma Partners Management Co's holdings in Bentley Systems were worth $1,905,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BSY. B. Riley Wealth Advisors Inc. acquired a new stake in Bentley Systems in the 1st quarter worth about $265,000. Tidal Investments LLC increased its position in shares of Bentley Systems by 10.2% during the first quarter. Tidal Investments LLC now owns 4,743 shares of the company's stock worth $248,000 after purchasing an additional 440 shares in the last quarter. Cetera Investment Advisers raised its stake in Bentley Systems by 144.9% in the 1st quarter. Cetera Investment Advisers now owns 31,097 shares of the company's stock valued at $1,624,000 after purchasing an additional 18,400 shares during the last quarter. Cetera Advisors LLC purchased a new position in Bentley Systems in the 1st quarter valued at $608,000. Finally, GAMMA Investing LLC boosted its stake in Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company's stock worth $28,000 after purchasing an additional 273 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BSY shares. Piper Sandler boosted their target price 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 for the company in a report on Wednesday, August 7th. Royal Bank of Canada reiterated 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 report on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $59.50.

Insiders Place Their Bets

In other news, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $50.92, for a total value of $2,546,000.00. Following the completion of the transaction, the director now owns 12,148,235 shares of the company's stock, valued at approximately $618,588,126.20. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 234,987 shares of company stock valued at $11,667,821 in the last quarter. Insiders own 21.12% of the company's stock.

Bentley Systems Price Performance

Shares of BSY traded down $0.50 during trading hours on Tuesday, reaching $49.47. 715,438 shares of the company traded hands, compared to its average volume of 1,034,841. The stock has a market capitalization of $14.38 billion, a PE ratio of 44.57, a price-to-earnings-growth ratio of 4.27 and a beta of 1.03. The stock has a fifty day simple moving average of $49.20 and a 200 day simple moving average of $49.66. 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 quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share 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 company 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 earnings per share. Bentley Systems's revenue was up 9.3% on a year-over-year basis. As a group, research analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be paid a $0.06 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. Bentley Systems's dividend payout ratio (DPR) is presently 21.62%.

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.