Orion Portfolio Solutions LLC Sells 4,971 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Orion Portfolio Solutions LLC cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,211 shares of the company’s stock after selling 4,971 shares during the period. Orion Portfolio Solutions LLC’s holdings in Bentley Systems were worth $3,008,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BSY. Allspring Global Investments Holdings LLC raised its position in shares of Bentley Systems by 4,618.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after buying an additional 508 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Bentley Systems in the third quarter worth about $30,000. Blue Trust Inc. raised its position in Bentley Systems by 68,500.0% in the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after purchasing an additional 685 shares in the last quarter. Central Pacific Bank Trust Division raised its position in Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its stake in Bentley Systems by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after buying an additional 358 shares during the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insider Activity at Bentley Systems

In other news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the sale, the director now owns 12,298,230 shares of the company’s stock, valued at approximately $617,371,146. This represents a 0.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 234,987 shares of company stock worth $11,667,821. Insiders own 21.12% of the company’s stock.

Bentley Systems Trading Down 2.5 %

BSY opened at $47.40 on Wednesday. The stock has a market capitalization of $13.78 billion, a P/E ratio of 43.80, a P/E/G ratio of 4.25 and a beta of 1.03. Bentley Systems, Incorporated has a 12 month low of $43.82 and a 12 month high of $57.19. The firm’s fifty day simple moving average is $49.13 and its 200 day simple moving average is $49.51. 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 (NASDAQ:BSY) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $335.17 million for the quarter, compared to analysts’ expectations of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. As a group, research analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd will be paid a $0.06 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 0.51%. Bentley Systems’s dividend payout ratio (DPR) is currently 21.62%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BSY. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a report on Monday. They set a “neutral” rating and a $52.00 target price for the company. Finally, Piper Sandler lifted their target price on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus price target of $58.43.

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.