180,140 Shares in Bentley Systems, Incorporated (NASDAQ:BSY) Bought by Bar Harbor Wealth Management

Bar Harbor Wealth Management purchased a new stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 180,140 shares of the company’s stock, valued at approximately $8,413,000. Bar Harbor Wealth Management owned approximately 0.06% of Bentley Systems at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in Bentley Systems by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock worth $10,396,000 after purchasing an additional 34,871 shares during the last quarter. Tidal Investments LLC raised its position in shares of Bentley Systems by 21.8% during the third quarter. Tidal Investments LLC now owns 7,169 shares of the company’s stock worth $364,000 after acquiring an additional 1,284 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Bentley Systems by 5.1% in the third quarter. Sanctuary Advisors LLC now owns 77,380 shares of the company’s stock worth $3,754,000 after acquiring an additional 3,732 shares during the period. Anchor Investment Management LLC bought a new stake in Bentley Systems in the third quarter valued at approximately $110,000. Finally, Toronto Dominion Bank increased its position in Bentley Systems by 30.9% during the 3rd quarter. Toronto Dominion Bank now owns 20,188 shares of the company’s stock valued at $1,026,000 after purchasing an additional 4,770 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BSY has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. Piper Sandler dropped their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.29.

Bentley Systems Stock Down 1.1 %

BSY traded down $0.50 during trading on Monday, hitting $45.36. 703,511 shares of the company’s stock were exchanged, compared to its average volume of 855,780. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The stock has a market cap of $13.19 billion, a P/E ratio of 40.86, a PEG ratio of 4.04 and a beta of 1.04. The business’s 50 day moving average is $48.14 and its two-hundred day moving average is $48.89. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

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

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.53%. Bentley Systems’s payout ratio is 21.62%.

Insider Activity at Bentley Systems

In related news, Director Barry J. Bentley sold 50,000 shares of Bentley Systems stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the sale, the director now directly owns 12,048,235 shares in the company, valued at approximately $589,761,103.25. This trade represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the transaction, the director now owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 169,573 shares of company stock valued at $8,166,472 over the last 90 days. 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.