Bentley Systems, Incorporated (NASDAQ:BSY) Stake Cut by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lessened its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,984 shares of the company’s stock after selling 968 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Bentley Systems were worth $6,605,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of Bentley Systems during the third quarter worth $59,400,000. Mirabella Financial Services LLP raised its stake in shares of Bentley Systems by 1,155.0% during the 3rd quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock worth $5,018,000 after purchasing an additional 92,768 shares in the last quarter. Montanaro Asset Management Ltd lifted its holdings in shares of Bentley Systems by 8.8% during the 3rd quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock valued at $16,839,000 after buying an additional 26,741 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Bentley Systems in the 1st quarter valued at approximately $608,000. Finally, Clearline Capital LP acquired a new position in Bentley Systems in the second quarter worth approximately $6,999,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Stock Down 1.0 %

Bentley Systems stock opened at $49.47 on Wednesday. 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 fifty-two week low of $43.82 and a fifty-two week high of $57.19. The firm has a fifty day moving average price of $49.20 and a two-hundred day moving average price of $49.66. The firm has a market cap of $14.38 billion, a price-to-earnings ratio of 44.57, a P/E/G ratio of 4.27 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $335.17 million during the quarter, compared to analysts’ expectations of $340.36 million. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. As a group, analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be given a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. Bentley Systems’s dividend payout ratio is 21.62%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Piper Sandler upped their price objective on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, 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 research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Bentley Systems presently has an average rating of “Moderate Buy” and an average price target of $59.50.

Insider Transactions at Bentley Systems

In related news, Director Barry J. Bentley sold 34,987 shares of Bentley Systems 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 sale, the director now directly owns 12,213,248 shares of the company’s stock, valued at $590,754,805.76. This trade represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 234,987 shares of company stock worth $11,667,821. Insiders own 21.12% of the company’s stock.

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.