NFJ Investment Group LLC Lowers Position in Bentley Systems, Incorporated (NASDAQ:BSY)

NFJ Investment Group LLC cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 5.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 12,169 shares of the company’s stock after selling 736 shares during the quarter. NFJ Investment Group LLC’s holdings in Bentley Systems were worth $618,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of BSY. International Assets Investment Management LLC purchased a new position in shares of Bentley Systems in the third quarter valued at about $59,400,000. Mirabella Financial Services LLP lifted its position in shares of Bentley Systems by 1,155.0% in the third quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock valued at $5,018,000 after acquiring an additional 92,768 shares in the last quarter. Montanaro Asset Management Ltd lifted its position in shares of Bentley Systems by 8.8% in the third quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock valued at $16,839,000 after acquiring an additional 26,741 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Bentley Systems in the first quarter valued at about $608,000. Finally, Clearline Capital LP purchased a new position in shares of Bentley Systems in the second quarter valued at about $6,999,000. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BSY. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Friday, November 8th. Piper Sandler boosted 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group decreased their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.50.

Insider Activity

In other news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $50.92, for a total transaction of $2,546,000.00. Following the transaction, the director now owns 12,148,235 shares of the company’s stock, valued at approximately $618,588,126.20. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 234,987 shares of company stock valued at $11,667,821. 21.12% of the stock is currently owned by insiders.

Bentley Systems Trading Up 2.2 %

Shares of BSY stock opened at $50.58 on Thursday. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The stock’s 50 day simple moving average is $49.21 and its two-hundred day simple moving average is $49.66. The company has a market cap of $14.70 billion, a PE ratio of 45.57, a price-to-earnings-growth ratio of 4.27 and a beta of 1.03.

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

Bentley Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. Bentley Systems’s dividend payout ratio is 21.62%.

Bentley Systems Company 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.