Capital Impact Advisors LLC trimmed its stake in Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating) by 24.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,226 shares of the company’s stock after selling 740 shares during the quarter. Capital Impact Advisors LLC’s holdings in Bentley Systems were worth $68,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. bought a new position in shares of Bentley Systems in the first quarter valued at $241,000. US Bancorp DE lifted its stake in Bentley Systems by 250.8% in the first quarter. US Bancorp DE now owns 4,806 shares of the company’s stock valued at $213,000 after acquiring an additional 3,436 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Bentley Systems by 96.7% in the 1st quarter. HighTower Advisors LLC now owns 10,401 shares of the company’s stock valued at $459,000 after acquiring an additional 5,114 shares during the period. Citigroup Inc. increased its stake in shares of Bentley Systems by 31.2% during the 1st quarter. Citigroup Inc. now owns 71,746 shares of the company’s stock worth $3,170,000 after purchasing an additional 17,080 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of 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 purchasing an additional 931 shares during the period. Institutional investors and hedge funds own 36.12% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on BSY shares. 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 boosted their target price on Bentley Systems from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Rosenblatt Securities restated a “buy” rating and set a $39.00 price objective on shares of Bentley Systems in a research report on Tuesday, February 28th. Royal Bank of Canada lifted their price target on shares of Bentley Systems from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, March 1st. Finally, KeyCorp increased their price target on shares of Bentley Systems from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.56.
Bentley Systems Price Performance
Bentley Systems (NASDAQ:BSY – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $287.00 million during the quarter, compared to the consensus estimate of $280.85 million. Bentley Systems had a return on equity of 41.48% and a net margin of 15.90%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. As a group, equities research analysts anticipate that Bentley Systems, Incorporated will post 0.65 earnings per share for the current year.
Bentley Systems Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were paid a $0.05 dividend. The ex-dividend date was Friday, February 17th. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a yield of 0.49%. Bentley Systems’s payout ratio is 36.36%.
Insiders Place Their Bets
In related news, insider David R. Shaman sold 5,712 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $41.00, for a total transaction of $234,192.00. Following the transaction, the insider now owns 703,820 shares in the company, valued at approximately $28,856,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider David R. Shaman sold 5,712 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $41.00, for a total value of $234,192.00. Following the completion of the sale, the insider now directly owns 703,820 shares in the company, valued at approximately $28,856,620. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kirk B. Griswold sold 35,000 shares of the company’s stock in a transaction dated 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 owns 502,204 shares in the company, valued at approximately $18,491,151.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,822 shares of company stock worth $3,443,608. Corporate insiders own 22.53% of the company’s stock.
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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