Bentley Systems, Incorporated (NASDAQ:BSY) Shares Purchased by Portside Wealth Group LLC

Portside Wealth Group LLC boosted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,203 shares of the company’s stock after buying an additional 1,101 shares during the quarter. Portside Wealth Group LLC’s holdings in Bentley Systems were worth $671,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in Bentley Systems by 4,618.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after purchasing an additional 508 shares during the period. GAMMA Investing LLC grew its position in shares of Bentley Systems by 90.1% during the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after buying an additional 273 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Bentley Systems by 68,500.0% during the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after buying an additional 685 shares during the period. Central Pacific Bank Trust Division raised its holdings in Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after acquiring an additional 276 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its stake in Bentley Systems by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after acquiring an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Bentley Systems Trading Down 4.9 %

Shares of Bentley Systems stock opened at $48.58 on Friday. The company’s fifty day moving average is $49.54 and its two-hundred day moving average is $50.44. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market capitalization of $14.12 billion, a P/E ratio of 42.61, a PEG ratio of 4.10 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.08. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The firm had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts forecast that Bentley Systems, Incorporated will post 0.9 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Tuesday, September 17th. Bentley Systems’s dividend payout ratio (DPR) is presently 21.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, Piper Sandler boosted their target price on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Insider Activity at Bentley Systems

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

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.