Clearline Capital LP cut its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 119,637 shares of the company's stock after selling 28,063 shares during the period. Clearline Capital LP's holdings in Bentley Systems were worth $5,587,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Bentley Systems by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company's stock worth $49,161,000 after purchasing an additional 15,372 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Bentley Systems during the 4th quarter worth approximately $809,000. Principal Financial Group Inc. lifted its stake in Bentley Systems by 20.5% in the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company's stock valued at $10,396,000 after buying an additional 34,871 shares in the last quarter. Bar Harbor Wealth Management acquired a new position in shares of Bentley Systems in the fourth quarter valued at approximately $8,413,000. Finally, Bank of New York Mellon Corp increased its position in shares of Bentley Systems by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company's stock worth $49,211,000 after acquiring an additional 97,950 shares in the last quarter. 44.16% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on BSY. Mizuho decreased their price objective on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price objective on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. KeyCorp upped their price objective on shares of Bentley Systems from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Thursday. Oppenheimer increased their target price on Bentley Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Robert W. Baird cut their price target on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Bentley Systems currently has an average rating of "Moderate Buy" and an average target price of $52.00.
Check Out Our Latest Research Report on Bentley Systems
Insider Buying and Selling
In other news, CRO Brock Ballard sold 12,363 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction of $557,324.04. Following the transaction, the executive now owns 68,064 shares of the company's stock, valued at approximately $3,068,325.12. This represents a 15.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 20.56% of the stock is currently owned by company insiders.
Bentley Systems Price Performance
Bentley Systems stock traded down $0.53 during midday trading on Friday, hitting $46.53. 1,039,785 shares of the company's stock were exchanged, compared to its average volume of 1,210,733. The company has a market cap of $14.10 billion, a P/E ratio of 41.92, a PEG ratio of 3.52 and a beta of 1.05. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems, Incorporated has a 52-week low of $36.51 and a 52-week high of $57.19. The stock has a 50-day moving average price of $42.20 and a two-hundred day moving average price of $45.56.
Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.05. The business had revenue of $370.54 million for the quarter, compared to the consensus estimate of $366.76 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS. On average, equities research analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.
Bentley Systems Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.60%. This is an increase from Bentley Systems's previous quarterly dividend of $0.06. Bentley Systems's dividend payout ratio (DPR) is 35.44%.
About Bentley Systems
(
Free Report)
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.
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