Brevan Howard Capital Management LP Sells 7,775 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Brevan Howard Capital Management LP trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 34.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,718 shares of the company's stock after selling 7,775 shares during the period. Brevan Howard Capital Management LP's holdings in Bentley Systems were worth $687,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BSY. Private Trust Co. NA raised its position in shares of Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company's stock valued at $47,000 after purchasing an additional 378 shares during the period. Tobam bought a new position in shares of Bentley Systems in the fourth quarter valued at about $55,000. Atala Financial Inc bought a new position in shares of Bentley Systems in the fourth quarter valued at about $55,000. CIBC Private Wealth Group LLC raised its position in shares of Bentley Systems by 42.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,673 shares of the company's stock valued at $78,000 after purchasing an additional 495 shares during the period. Finally, Tortoise Investment Management LLC raised its position in shares of Bentley Systems by 76.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company's stock valued at $78,000 after purchasing an additional 728 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bentley Systems

In other news, CRO Brock Ballard sold 12,363 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total transaction of $557,324.04. Following the sale, the executive now directly owns 68,064 shares in the company, valued at $3,068,325.12. This represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 20.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BSY. UBS Group increased their price objective on shares of Bentley Systems from $48.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Robert W. Baird lowered their price target on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. KeyCorp raised their price target on shares of Bentley Systems from $54.00 to $56.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Oppenheimer raised their price target on shares of Bentley Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Royal Bank of Canada raised their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Bentley Systems currently has a consensus rating of "Moderate Buy" and an average target price of $52.00.

Bentley Systems Stock Down 0.8%

BSY stock traded down $0.38 during midday trading on Wednesday, reaching $47.76. 298,756 shares of the company's stock traded hands, compared to its average volume of 1,387,001. The company has a market cap of $13.94 billion, a price-to-earnings ratio of 43.03, a P/E/G ratio of 3.52 and a beta of 1.05. The firm's fifty day moving average price is $42.39 and its 200-day moving average price is $45.55. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $57.19.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.05. The firm 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 business's revenue for the quarter 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. As a group, sell-side analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 19th were paid a $0.07 dividend. This is a boost from Bentley Systems's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, March 19th. Bentley Systems's payout ratio is currently 35.44%.

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.