Worldquant Millennium Advisors LLC Sells 22,725 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Worldquant Millennium Advisors LLC reduced its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 11.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 177,687 shares of the company's stock after selling 22,725 shares during the period. Worldquant Millennium Advisors LLC owned approximately 0.06% of Bentley Systems worth $9,028,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Weiss Asset Management LP bought a new position in Bentley Systems during the third quarter worth $10,501,000. Stifel Financial Corp grew its position in Bentley Systems by 0.9% in the 3rd quarter. Stifel Financial Corp now owns 465,334 shares of the company's stock worth $23,644,000 after purchasing an additional 4,030 shares during the last quarter. Quantinno Capital Management LP bought a new position in shares of Bentley Systems during the 3rd quarter worth about $249,000. Point72 DIFC Ltd acquired a new position in shares of Bentley Systems during the third quarter valued at about $237,000. Finally, Needham Investment Management LLC bought a new stake in shares of Bentley Systems in the third quarter valued at about $2,134,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Barry J. Bentley sold 50,000 shares of the firm's stock in a transaction 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 in the company, valued at approximately $617,371,146. This trade represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 234,987 shares of company stock worth $11,667,821 in the last quarter. 21.12% of the stock is owned by corporate insiders.

Bentley Systems Price Performance

NASDAQ BSY traded up $0.18 during trading on Friday, reaching $49.74. 715,448 shares of the company traded hands, compared to its average volume of 990,707. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19. The company has a market cap of $14.46 billion, a price-to-earnings ratio of 44.81, a P/E/G ratio of 4.32 and a beta of 1.03. The stock's 50 day moving average price is $49.17 and its two-hundred day moving average price is $49.56. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting 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 previous year, the firm earned $0.18 EPS. Bentley Systems's quarterly revenue was up 9.3% on a year-over-year basis. As a group, analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, December 3rd. Bentley Systems's payout ratio is 21.62%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler boosted their price target on Bentley Systems from $63.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Rosenblatt Securities restated a "buy" rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $59.50.

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.