Bar Harbor Wealth Management Grows Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Bar Harbor Wealth Management boosted its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,441 shares of the company's stock after purchasing an additional 10,301 shares during the period. Bar Harbor Wealth Management owned approximately 0.07% of Bentley Systems worth $7,492,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Impax Asset Management Group plc raised its stake in shares of Bentley Systems by 41.9% in the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company's stock valued at $115,719,000 after acquiring an additional 736,369 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Bentley Systems by 591.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company's stock valued at $26,446,000 after acquiring an additional 475,361 shares during the period. Sone Capital Management LLC purchased a new stake in shares of Bentley Systems in the 4th quarter valued at approximately $17,884,000. SG Americas Securities LLC raised its stake in shares of Bentley Systems by 449.7% in the 1st quarter. SG Americas Securities LLC now owns 384,291 shares of the company's stock valued at $15,118,000 after acquiring an additional 314,387 shares during the period. Finally, BLI Banque de Luxembourg Investments purchased a new stake in shares of Bentley Systems in the 4th quarter valued at approximately $14,929,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CRO Brock Ballard sold 12,363 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total value of $557,324.04. Following the completion of the transaction, the executive now owns 68,064 shares in the company, valued at approximately $3,068,325.12. This represents a 15.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 20.56% of the company's stock.

Wall Street Analysts Forecast Growth

BSY has been the topic of a number of research analyst reports. Rosenblatt Securities reduced their price target on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. KeyCorp upped their target price on shares of Bentley Systems from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Robert W. Baird cut their target price on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. UBS Group upped their target price on shares of Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Mizuho cut their target price on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $52.00.

Bentley Systems Stock Up 0.3%

NASDAQ BSY traded up $0.16 on Friday, hitting $49.34. 1,252,376 shares of the stock were exchanged, compared to its average volume of 1,222,269. 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 fifty-two week low of $36.51 and a fifty-two week high of $52.12. The company has a market cap of $14.40 billion, a PE ratio of 44.45, a PEG ratio of 3.52 and a beta of 1.07. The company has a 50-day moving average price of $45.48 and a 200-day moving average price of $45.50.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The company had revenue of $370.54 million during the quarter, compared to analysts' expectations of $366.76 million. During the same quarter in the previous year, the business posted $0.31 EPS. The firm's revenue was up 9.7% on a year-over-year basis. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, June 3rd. Bentley Systems's payout ratio is 35.44%.

Bentley Systems Profile

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.