Mn Services Vermogensbeheer B.V. trimmed its position in Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,900 shares of the company’s stock after selling 6,200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Bentley Systems were worth $3,239,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of Bentley Systems by 41.2% in the 3rd quarter. SG Americas Securities LLC now owns 34,330 shares of the company’s stock worth $1,050,000 after purchasing an additional 10,016 shares during the period. CWM LLC raised its holdings in shares of Bentley Systems by 67.3% in the 3rd quarter. CWM LLC now owns 885 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares during the period. Mirabella Financial Services LLP raised its holdings in shares of Bentley Systems by 162.7% during the 3rd quarter. Mirabella Financial Services LLP now owns 39,265 shares of the company’s stock valued at $1,229,000 after buying an additional 24,319 shares during the period. Truist Financial Corp raised its holdings in shares of Bentley Systems by 21.0% during the 3rd quarter. Truist Financial Corp now owns 163,265 shares of the company’s stock valued at $4,995,000 after buying an additional 28,318 shares during the period. Finally, Raymond James & Associates raised its holdings in shares of Bentley Systems by 295.8% during the 3rd quarter. Raymond James & Associates now owns 940,500 shares of the company’s stock valued at $28,770,000 after buying an additional 702,875 shares during the period. 36.12% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Bentley Systems
In other Bentley Systems news, Director Kirk B. Griswold sold 35,000 shares of Bentley Systems stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $36.82, for a total transaction of $1,288,700.00. Following the sale, the director now owns 502,204 shares of the company’s stock, valued at approximately $18,491,151.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Gregory S. Bentley sold 87,531 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $36.07, for a total value of $3,157,243.17. Following the sale, the chief executive officer now owns 8,592,671 shares of the company’s stock, valued at approximately $309,937,642.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk B. Griswold sold 35,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $36.82, for a total value of $1,288,700.00. Following the completion of the sale, the director now directly owns 502,204 shares in the company, valued at approximately $18,491,151.28. The disclosure for this sale can be found here. Insiders sold 124,199 shares of company stock worth $4,505,991 in the last 90 days. 22.53% of the stock is currently owned by company insiders.
Bentley Systems Price Performance
Bentley Systems (NASDAQ:BSY – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Bentley Systems had a return on equity of 49.27% and a net margin of 17.37%. The business had revenue of $268.33 million during the quarter, compared to analyst estimates of $268.93 million. As a group, analysts forecast that Bentley Systems, Incorporated will post 0.65 EPS for the current year.
Bentley Systems Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 8th. Investors of record on Wednesday, November 30th were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, November 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.32%. Bentley Systems’s dividend payout ratio is currently 20.34%.
Analyst Upgrades and Downgrades
BSY has been the topic of several analyst reports. Mizuho raised their target price on Bentley Systems from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 8th. Royal Bank of Canada dropped their target price on Bentley Systems from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Oppenheimer reiterated an “outperform” rating and set a $48.00 target price on shares of Bentley Systems in a report on Tuesday, November 22nd. Rosenblatt Securities raised their target price on Bentley Systems from $37.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. Finally, The Goldman Sachs Group upgraded Bentley Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $38.00 to $44.00 in a research note on Wednesday, November 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.33.
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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.
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