Bar Harbor Wealth Management Takes $8.41 Million Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Bar Harbor Wealth Management acquired a new position in Bentley Systems, Incorporated (NASDAQ:BSY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 180,140 shares of the company’s stock, valued at approximately $8,413,000.

Other hedge funds have also bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new stake in Bentley Systems in the 3rd quarter worth approximately $30,000. Central Pacific Bank Trust Division raised its holdings in shares of Bentley Systems by 57.1% in the 3rd 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. Acadian Asset Management LLC purchased a new stake in shares of Bentley Systems in the 2nd quarter valued at about $43,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Bentley Systems by 500.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $61,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Bentley Systems by 49.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,342 shares of the company’s stock worth $66,000 after purchasing an additional 442 shares in the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $49.44, for a total transaction of $2,472,000.00. Following the completion of the transaction, the director now owns 12,098,235 shares in the company, valued at $598,136,738.40. This represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the sale, the director now owns 16,705,028 shares in the company, valued at approximately $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 three months. 21.12% of the stock is owned by company insiders.

Bentley Systems Trading Down 1.1 %

NASDAQ:BSY traded down $0.50 during trading hours on Monday, reaching $45.36. The company’s stock had a trading volume of 703,511 shares, compared to its average volume of 855,780. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 4.04 and a beta of 1.04. The firm has a 50-day simple moving average of $48.14 and a 200-day simple moving average of $48.89. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19.

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

Bentley Systems Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is 21.62%.

Analyst Ratings Changes

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

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.