TimesSquare Capital Management LLC Purchases 39,205 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

TimesSquare Capital Management LLC grew its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,161,146 shares of the company's stock after purchasing an additional 39,205 shares during the period. TimesSquare Capital Management LLC owned approximately 0.40% of Bentley Systems worth $58,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BSY. Clear Harbor Asset Management LLC raised its holdings in shares of Bentley Systems by 1.5% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company's stock valued at $779,000 after buying an additional 220 shares during the period. Advisor OS LLC boosted its position in Bentley Systems by 0.7% during the 2nd quarter. Advisor OS LLC now owns 30,983 shares of the company's stock valued at $1,529,000 after purchasing an additional 226 shares during the period. Magnolia Capital Advisors LLC boosted its position in Bentley Systems by 5.4% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company's stock valued at $242,000 after purchasing an additional 249 shares during the period. GAMMA Investing LLC boosted its position 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 acquiring an additional 273 shares during the period. Finally, WR Wealth Planners LLC boosted its position in Bentley Systems by 4.5% during the 2nd quarter. WR Wealth Planners LLC now owns 6,435 shares of the company's stock worth $318,000 after acquiring an additional 275 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bentley Systems

In related news, Director Barry J. Bentley sold 50,000 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the sale, the director now owns 12,298,230 shares in the company, valued at $617,371,146. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Barry J. Bentley sold 34,987 shares of the company's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the transaction, the director now directly owns 12,213,248 shares of the company's stock, valued at approximately $590,754,805.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry J. Bentley sold 50,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total value of $2,510,000.00. Following the completion of the sale, the director now directly owns 12,298,230 shares of the company's stock, valued at approximately $617,371,146. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock valued at $16,168,176 in the last three months. Corporate insiders own 21.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BSY. Piper Sandler upped their price objective on Bentley Systems from $63.00 to $65.00 and gave the company an "overweight" rating in a report on Friday. Royal Bank of Canada restated an "outperform" rating and set a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. The Goldman Sachs Group reduced their price target on Bentley Systems from $57.00 to $50.00 and set a "neutral" rating for the company 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

Bentley Systems Stock Down 4.9 %

Shares of NASDAQ BSY traded down $2.51 during mid-day trading on Friday, reaching $48.58. 1,122,696 shares of the company's stock were exchanged, compared to its average volume of 717,428. The business has a fifty day simple moving average of $49.48 and a 200 day simple moving average of $50.38. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. The firm has a market capitalization of $14.12 billion, a price-to-earnings ratio of 43.77, a PEG ratio of 4.17 and a beta of 1.04. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 annualized dividend and a yield of 0.49%. Bentley Systems's payout ratio is currently 21.62%.

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.