Prentiss Smith & Co. Inc. Invests $2.98 Million in Bentley Systems, Incorporated (NASDAQ:BSY)

Prentiss Smith & Co. Inc. acquired a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 63,856 shares of the company's stock, valued at approximately $2,982,000. Bentley Systems makes up about 2.0% of Prentiss Smith & Co. Inc.'s investment portfolio, making the stock its 23rd largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB boosted its position in shares of Bentley Systems by 24.2% in 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 in the last quarter. Impax Asset Management Group plc purchased a new stake in shares of Bentley Systems during the third quarter worth about $88,771,000. Handelsbanken Fonder AB increased its holdings in shares of Bentley Systems by 41.8% during the third quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company's stock valued at $67,222,000 after acquiring an additional 390,000 shares in the last quarter. TimesSquare Capital Management LLC raised its position in shares of Bentley Systems by 3.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,161,146 shares of the company's stock valued at $58,998,000 after purchasing an additional 39,205 shares during the last quarter. Finally, Fiera Capital Corp acquired a new stake in Bentley Systems in the 3rd quarter worth approximately $42,773,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSY has been the topic of a number of recent analyst reports. Piper Sandler cut their price target on shares of Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Rosenblatt Securities restated a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. initiated coverage on 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.29.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the sale, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.12% of the stock is owned by corporate insiders.

Bentley Systems Stock Performance

BSY traded up $0.63 during midday trading on Friday, hitting $46.55. 1,825,769 shares of the company were exchanged, compared to its average volume of 1,085,130. The company's 50 day simple moving average is $47.46 and its 200 day simple moving average is $48.58. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of 41.94, a price-to-earnings-growth ratio of 3.41 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. 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 released its quarterly earnings data 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 business had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The business's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

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

About Bentley Systems

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.