Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,317,026 shares of the company’s stock after selling 103,230 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Bentley Systems were worth $68,722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Picton Mahoney Asset Management grew its stake in shares of Bentley Systems by 9.2% during the 4th quarter. Picton Mahoney Asset Management now owns 124,892 shares of the company’s stock worth $6,516,000 after purchasing an additional 10,538 shares during the period. Everpar Advisors LLC purchased a new stake in shares of Bentley Systems in the 4th quarter worth about $1,106,000. Charles Schwab Investment Management Inc. boosted its position in shares of Bentley Systems by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,430,019 shares of the company’s stock worth $74,618,000 after buying an additional 28,285 shares in the last quarter. Machina Capital S.A.S. purchased a new stake in shares of Bentley Systems in the 4th quarter worth about $238,000. Finally, Vestmark Advisory Solutions Inc. boosted its position in shares of Bentley Systems by 3.3% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 102,623 shares of the company’s stock worth $5,355,000 after buying an additional 3,284 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Trading Up 1.2 %

BSY traded up $0.65 on Thursday, reaching $55.01. 871,558 shares of the company’s stock were exchanged, compared to its average volume of 1,318,590. The company’s 50 day moving average is $51.01 and its 200-day moving average is $50.91. The company has a market cap of $15.72 billion, a price-to-earnings ratio of 54.91, a PEG ratio of 5.36 and a beta of 1.08. Bentley Systems, Incorporated has a twelve month low of $44.46 and a twelve month high of $55.37. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $310.64 million during the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. Bentley Systems’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. Equities analysts predict that Bentley Systems, Incorporated will post 0.82 earnings per share for the current year.

Bentley Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were paid a dividend of $0.06 per share. This is a boost from Bentley Systems’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Tuesday, March 19th. Bentley Systems’s dividend payout ratio is 24.24%.

Insider Activity

In related news, Director Keith A. Bentley sold 118,949 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $55.01, for a total transaction of $6,543,384.49. Following the transaction, the director now directly owns 17,031,803 shares in the company, valued at $936,919,483.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Keith A. Bentley sold 88,925 shares of Bentley Systems stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the transaction, the director now directly owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Keith A. Bentley sold 118,949 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total value of $6,543,384.49. Following the completion of the transaction, the director now owns 17,031,803 shares of the company’s stock, valued at approximately $936,919,483.03. The disclosure for this sale can be found here. In the last three months, insiders sold 224,895 shares of company stock worth $11,879,548. 21.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on BSY. Mizuho boosted their price objective on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird upped their target price on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. William Blair started coverage on shares of Bentley Systems in a report on Thursday, March 28th. They issued an “outperform” rating on the stock. Finally, Piper Sandler restated an “overweight” rating and issued a $63.00 target price (up from $60.00) on shares of Bentley Systems in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.33.

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 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.