Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC cut its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 12.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,235 shares of the company’s stock after selling 18,091 shares during the quarter. Geneva Capital Management LLC’s holdings in Bentley Systems were worth $6,770,000 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. Clear Harbor Asset Management LLC raised its stake in shares of Bentley Systems by 1.5% in the third quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock valued at $779,000 after acquiring an additional 220 shares in the last quarter. Advisor OS LLC increased its holdings in Bentley Systems by 0.7% during the 2nd quarter. Advisor OS LLC now owns 30,983 shares of the company’s stock worth $1,529,000 after purchasing an additional 226 shares during the period. Magnolia Capital Advisors LLC raised its position in Bentley Systems by 5.4% in 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after buying an additional 273 shares during the period. Finally, WR Wealth Planners LLC grew its position in shares of Bentley Systems by 4.5% during the second quarter. WR Wealth Planners LLC now owns 6,435 shares of the company’s stock worth $318,000 after buying an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insiders Place Their Bets

In other news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the transaction, the director now owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the sale, the director now owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry J. Bentley sold 34,987 shares of the stock in a transaction dated 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 $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. In the last ninety days, insiders sold 326,032 shares of company stock valued at $16,168,176. 21.12% of the stock is owned by company insiders.

Bentley Systems Price Performance

BSY stock opened at $49.40 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $14.36 billion, a P/E ratio of 44.50, a PEG ratio of 4.07 and a beta of 1.04. The business has a 50 day simple moving average of $49.44 and a 200-day simple moving average of $50.28. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm had revenue of $335.17 million during the quarter, compared to analysts’ expectations of $340.36 million. During the same quarter in the prior year, the business earned $0.18 EPS. Bentley Systems’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts anticipate that Bentley Systems, Incorporated will post 0.9 EPS for the current year.

Bentley Systems Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th. Piper Sandler raised their target price on Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group cut 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Bentley Systems 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.