Park Avenue Securities LLC Has $298,000 Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Park Avenue Securities LLC trimmed its stake in Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating) by 16.0% in the third quarter, Holdings Channel reports. The firm owned 9,748 shares of the company’s stock after selling 1,862 shares during the quarter. Park Avenue Securities LLC’s holdings in Bentley Systems were worth $298,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Bentley Systems by 2.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 483,928 shares of the company’s stock valued at $14,803,000 after buying an additional 9,971 shares during the last quarter. Pictet Asset Management SA boosted its position in Bentley Systems by 395.3% during the second quarter. Pictet Asset Management SA now owns 401,516 shares of the company’s stock worth $13,371,000 after purchasing an additional 320,453 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Bentley Systems by 29.8% in the second quarter. Envestnet Asset Management Inc. now owns 701,000 shares of the company’s stock valued at $23,343,000 after purchasing an additional 160,733 shares during the last quarter. FDx Advisors Inc. raised its position in shares of Bentley Systems by 39.4% in the second quarter. FDx Advisors Inc. now owns 43,813 shares of the company’s stock valued at $1,459,000 after purchasing an additional 12,392 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Bentley Systems by 21.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,707,419 shares of the company’s stock worth $389,857,000 after buying an additional 2,068,341 shares during the last quarter. 36.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on BSY shares. Rosenblatt Securities increased their price target on shares of Bentley Systems from $37.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. Oppenheimer reissued an “outperform” rating and set a $48.00 price target on shares of Bentley Systems in a report on Tuesday, November 22nd. The Goldman Sachs Group raised Bentley Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $38.00 to $44.00 in a report on Wednesday, November 9th. Royal Bank of Canada reduced their target price on shares of Bentley Systems from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Finally, Mizuho raised their price target on shares of Bentley Systems from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.33.

Insider Buying and Selling

In other Bentley Systems news, Director Kirk B. Griswold sold 35,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were 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 $18,491,151.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Bentley Systems news, Director Kirk B. Griswold sold 35,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 502,204 shares in the company, valued at $18,491,151.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory S. Bentley sold 87,531 shares of the business’s stock in a transaction dated 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 in the company, valued at $309,937,642.97. The disclosure for this sale can be found here. Insiders sold a total of 124,199 shares of company stock worth $4,505,991 in the last three months. 22.53% of the stock is owned by corporate insiders.

Bentley Systems Stock Performance

Shares of Bentley Systems stock opened at $38.30 on Monday. The company has a 50 day moving average of $37.94 and a 200-day moving average of $36.52. The company has a market cap of $10.60 billion, a PE ratio of 64.92, a price-to-earnings-growth ratio of 6.68 and a beta of 1.23. 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 1-year low of $26.32 and a 1-year high of $45.70.

Bentley Systems (NASDAQ:BSY – Get Rating) last issued its earnings results on Tuesday, November 8th. The company reported $0.14 earnings per share 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 firm had revenue of $268.33 million for the quarter, compared to the consensus estimate of $268.93 million. As a group, equities research analysts forecast that Bentley Systems, Incorporated will post 0.65 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 8th. Investors of record on Wednesday, November 30th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Tuesday, November 29th. Bentley Systems’s dividend payout ratio (DPR) is presently 20.34%.

Bentley Systems Company Profile

(Get Rating)

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.