Portside Wealth Group LLC Increases Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Portside Wealth Group LLC boosted its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 9.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,203 shares of the company’s stock after buying an additional 1,101 shares during the period. Portside Wealth Group LLC’s holdings in Bentley Systems were worth $671,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after buying an additional 508 shares during the last quarter. GAMMA Investing LLC raised its position in Bentley Systems by 90.1% during the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after acquiring an additional 273 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Bentley Systems by 68,500.0% in the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after purchasing an additional 685 shares in the last quarter. Central Pacific Bank Trust Division grew its position in shares of Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after purchasing an additional 276 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its position in shares of Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after purchasing an additional 358 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BSY shares. The Goldman Sachs Group lowered their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Friday. Piper Sandler upped their target price on shares of Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a 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. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Insider Transactions at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of Bentley Systems stock in a transaction 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 transaction, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $48.95, for a total value of $2,447,500.00. Following the transaction, the director now owns 12,048,235 shares of the company’s stock, valued at approximately $589,761,103.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the sale, the director now directly owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock worth $16,168,176 in the last ninety days. Insiders own 21.12% of the company’s stock.

Bentley Systems Stock Down 4.9 %

Shares of NASDAQ:BSY opened at $48.58 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.36. The firm has a market cap of $14.12 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 4.10 and a beta of 1.04. The stock’s 50-day moving average price is $49.54 and its two-hundred day moving average price is $50.44. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.08. Bentley Systems had a net margin of 29.17% and a return on equity of 31.71%. The business had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. During the same period last year, the company earned $0.20 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. On average, research analysts forecast that Bentley Systems, Incorporated will post 0.9 EPS for the current year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. Bentley Systems’s dividend payout ratio (DPR) is presently 21.05%.

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.