Clear Harbor Asset Management LLC Raises Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Clear Harbor Asset Management LLC lifted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,335 shares of the company’s stock after purchasing an additional 220 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Bentley Systems were worth $779,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in Bentley Systems by 4,618.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after purchasing an additional 508 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after buying an additional 273 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Bentley Systems by 68,500.0% during the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after buying an additional 685 shares during the last quarter. Central Pacific Bank Trust Division raised its position 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 worth $39,000 after buying an additional 276 shares during the period. Finally, Tortoise Investment Management LLC boosted its holdings in Bentley Systems by 75.4% in the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after acquiring an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insiders Place Their Bets

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 completion of the transaction, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Bentley Systems news, Director Barry J. Bentley sold 34,987 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the sale, the director now directly owns 12,213,248 shares in the company, valued at approximately $590,754,805.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the sale, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,032 shares of company stock valued at $13,720,676 over the last three months. Company insiders own 21.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BSY. Piper Sandler reissued an “overweight” rating and issued a $63.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research note on Monday, September 16th. Finally, The Goldman Sachs Group decreased their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.57.

Bentley Systems Price Performance

BSY opened at $49.15 on Monday. The company has a 50-day moving average of $49.75 and a 200-day moving average of $50.48. Bentley Systems, Incorporated has a 1-year low of $43.82 and a 1-year high of $57.19. The company has a market capitalization of $14.18 billion, a P/E ratio of 45.93, a PEG ratio of 4.09 and a beta of 1.03. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.49 and a current ratio of 0.49.

Bentley Systems (NASDAQ:BSY) last issued its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. The company had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 earnings per share. Equities analysts expect that Bentley Systems, Incorporated will post 0.9 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. Bentley Systems’s payout ratio is currently 22.43%.

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.