Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC decreased its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 16.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,980 shares of the company’s stock after selling 602 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Bentley Systems were worth $139,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BSY. International Assets Investment Management LLC bought a new stake in Bentley Systems during the 3rd quarter valued at $59,400,000. Principal Financial Group Inc. grew its holdings in shares of Bentley Systems by 20.5% during the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after buying an additional 34,871 shares in the last quarter. Needham Investment Management LLC purchased a new position in shares of Bentley Systems during the third quarter valued at $2,134,000. Mirabella Financial Services LLP grew its holdings in shares of Bentley Systems by 1,155.0% during the third quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock valued at $5,018,000 after buying an additional 92,768 shares in the last quarter. Finally, Montanaro Asset Management Ltd increased its position in Bentley Systems by 8.8% in the 3rd quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock worth $16,839,000 after purchasing an additional 26,741 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Price Performance

NASDAQ BSY traded down $0.69 on Monday, hitting $45.17. 425,623 shares of the company’s stock were exchanged, compared to its average volume of 811,517. The stock has a 50-day moving average of $48.14 and a 200-day moving average of $48.89. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 40.69, a P/E/G ratio of 4.04 and a beta of 1.04.

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, 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 during 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. Bentley Systems’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.53%. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Bentley Systems

In other news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the completion of the sale, the director now owns 12,048,235 shares in the company, valued at $589,761,103.25. This trade represents a 0.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction that occurred 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 transaction, the director now owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. This represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 169,573 shares of company stock valued at $8,166,472 in the last 90 days. 21.12% of the stock is currently owned by corporate insiders.

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.