Cwm LLC grew its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating) by 67.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 885 shares of the company’s stock after acquiring an additional 356 shares during the quarter. Cwm LLC’s holdings in Bentley Systems were worth $27,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. raised its position in shares of Bentley Systems by 181.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 830 shares of the company’s stock worth $28,000 after purchasing an additional 535 shares during the period. First Horizon Advisors Inc. raised its position in Bentley Systems by 209.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 973 shares of the company’s stock valued at $32,000 after buying an additional 659 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Bentley Systems by 315.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,226 shares of the company’s stock valued at $55,000 after buying an additional 931 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Bentley Systems in the 2nd quarter valued at approximately $42,000. Finally, Lazard Asset Management LLC raised its position in Bentley Systems by 28.7% in the 1st quarter. Lazard Asset Management LLC now owns 2,123 shares of the company’s stock valued at $93,000 after buying an additional 473 shares during the last quarter. Institutional investors and hedge funds own 36.12% of the company’s stock.
Bentley Systems Stock Performance
Shares of NASDAQ BSY opened at $38.30 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 3.42. Bentley Systems, Incorporated has a 12 month low of $26.32 and a 12 month high of $45.70. The stock has a 50 day moving average of $37.94 and a 200-day moving average of $36.51. The company has a market capitalization of $10.60 billion, a P/E ratio of 64.92, a P/E/G ratio of 6.62 and a beta of 1.23.
Bentley Systems Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, December 8th. Investors of record on Wednesday, November 30th were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, November 29th. This represents a $0.12 annualized dividend and a yield of 0.31%. Bentley Systems’s dividend payout ratio (DPR) is presently 20.34%.
Insider Activity at Bentley Systems
In related news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kirk B. Griswold sold 35,000 shares of the company’s 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 completion of the sale, the director now directly owns 502,204 shares in the company, valued at approximately $18,491,151.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory S. Bentley sold 1,668 shares of the company’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $36.00, for a total value of $60,048.00. Following the sale, the chief executive officer now owns 8,634,484 shares of the company’s stock, valued at $310,841,424. The disclosure for this sale can be found here. Insiders sold 124,199 shares of company stock worth $4,505,991 in the last ninety days. 22.53% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on BSY. The Goldman Sachs Group raised Bentley Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $38.00 to $44.00 in a research report on Wednesday, November 9th. Rosenblatt Securities boosted their price target on Bentley Systems from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, November 9th. Mizuho boosted their price target on Bentley Systems from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 8th. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 price target on shares of Bentley Systems in a research report on Tuesday, November 22nd. Finally, Royal Bank of Canada lowered their price target on Bentley Systems from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.33.
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 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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