TimesSquare Capital Management LLC Raises Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

TimesSquare Capital Management LLC grew its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 3.5% in the third quarter, HoldingsChannel.com reports. The firm owned 1,161,146 shares of the company’s stock after acquiring an additional 39,205 shares during the period. TimesSquare Capital Management LLC’s holdings in Bentley Systems were worth $58,998,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Forsta AP Fonden boosted its holdings in shares of Bentley Systems by 45.0% during the 1st quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $3,316,000 after purchasing an additional 19,700 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Bentley Systems in the 3rd quarter worth $59,400,000. Vanguard Group Inc. increased its holdings in shares of Bentley Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 22,252,050 shares of the company’s stock worth $1,162,002,000 after buying an additional 134,516 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of Bentley Systems during the 1st quarter valued at about $608,000. Finally, Clearline Capital LP bought a new position in shares of Bentley Systems in the 2nd quarter valued at about $6,999,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Activity

In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the company’s 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 transaction, the director now directly owns 16,598,656 shares in the company, valued at $820,471,566.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the sale, the director now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Barry J. Bentley sold 34,987 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $48.37, for a total value of $1,692,321.19. Following the transaction, the director now directly owns 12,213,248 shares in the company, valued at $590,754,805.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 326,032 shares of company stock valued at $16,168,176. 21.12% of the stock is currently owned by company insiders.

Bentley Systems Price Performance

Shares of BSY stock opened at $48.58 on Friday. The stock has a 50 day moving average price of $49.48 and a 200 day moving average price of $50.38. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week 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 firm has a market capitalization of $14.12 billion, a P/E ratio of 42.61, a P/E/G ratio of 4.17 and a beta of 1.04.

Bentley Systems Dividend Announcement

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

Analyst Ratings Changes

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

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.