Y Intercept Hong Kong Ltd Cuts Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

Y Intercept Hong Kong Ltd decreased its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 83.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,956 shares of the company's stock after selling 38,877 shares during the period. Y Intercept Hong Kong Ltd's holdings in Bentley Systems were worth $404,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in Bentley Systems by 4,618.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company's stock valued at $26,000 after buying an additional 508 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Bentley Systems in the 3rd quarter worth about $30,000. Blue Trust Inc. boosted its holdings in Bentley Systems by 68,500.0% in the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company's stock valued at $36,000 after purchasing an additional 685 shares during the period. Central Pacific Bank Trust Division grew its position in shares of Bentley Systems by 57.1% during the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company's stock worth $39,000 after purchasing an additional 276 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its position in shares of Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company's stock worth $41,000 after purchasing an additional 358 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BSY has been the subject of a number of research reports. Rosenblatt Securities reissued a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a report on Friday, November 8th. Piper Sandler raised their price objective on Bentley Systems from $63.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. began coverage on Bentley Systems in a report 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 issued a buy rating to the company. According to MarketBeat, Bentley Systems has an average rating of "Moderate Buy" and an average price target of $58.43.

Insider Activity

In other news, Director Barry J. Bentley sold 50,000 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the transaction, the director now directly owns 12,298,230 shares in the company, valued at $617,371,146. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 234,987 shares of company stock worth $11,667,821. 21.12% of the stock is owned by corporate insiders.

Bentley Systems Stock Performance

Shares of NASDAQ BSY traded up $0.51 during mid-day trading on Tuesday, reaching $48.54. 893,072 shares of the company's stock were exchanged, compared to its average volume of 1,192,362. The firm has a market capitalization of $14.11 billion, a price-to-earnings ratio of 43.73, a price-to-earnings-growth ratio of 4.04 and a beta of 1.03. The firm has a 50-day moving average price of $48.98 and a two-hundred day moving average price of $49.33. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (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%. The business's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. Analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Tuesday, December 3rd. 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.