Clear Harbor Asset Management LLC Purchases 12,438 Shares of Bentley Systems, Incorporated $BSY

Key Points

• Clear Harbor Asset Management LLC increased its holdings in Bentley Systems by 22.6%, acquiring an additional 12,438 shares, bringing their total to 67,553 shares valued at approximately $3.65 million.
• Insider sales included David R. Shaman selling 19,348 shares and Keith A. Bentley selling 150,000 shares, reducing their ownership by 2.90% and 3.74%, respectively.
• Bentley Systems recently declared a quarterly dividend of $0.07 per share, indicating a 0.5% annualized dividend yield, with a payout ratio of 35.44%.

Clear Harbor Asset Management LLC boosted its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 22.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,553 shares of the company's stock after buying an additional 12,438 shares during the quarter. Clear Harbor Asset Management LLC's holdings in Bentley Systems were worth $3,646,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. City Holding Co. acquired a new stake in Bentley Systems in the first quarter valued at about $26,000. Geneos Wealth Management Inc. raised its position in Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock valued at $26,000 after purchasing an additional 627 shares during the last quarter. Twin Tree Management LP raised its position in Bentley Systems by 361.9% in the first quarter. Twin Tree Management LP now owns 739 shares of the company's stock valued at $29,000 after purchasing an additional 579 shares during the last quarter. Larson Financial Group LLC raised its position in Bentley Systems by 1,707.1% in the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after purchasing an additional 717 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Bentley Systems by 106.6% in the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock valued at $33,000 after purchasing an additional 435 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

Bentley Systems Stock Up 1.5%

NASDAQ BSY traded up $0.78 during mid-day trading on Monday, hitting $53.60. The company's stock had a trading volume of 1,473,856 shares, compared to its average volume of 1,493,382. The company's 50 day simple moving average is $54.97 and its 200 day simple moving average is $49.37. Bentley Systems, Incorporated has a twelve month low of $36.51 and a twelve month high of $59.25. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $15.66 billion, a price-to-earnings ratio of 67.85, a PEG ratio of 4.26 and a beta of 1.09.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $364.11 million for the quarter, compared to analysts' expectations of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.Bentley Systems's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd will be given a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a $0.28 annualized dividend and a yield of 0.5%. Bentley Systems's payout ratio is currently 35.44%.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $56.96, for a total value of $1,102,062.08. Following the transaction, the insider owned 647,609 shares of the company's stock, valued at approximately $36,887,808.64. The trade was a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith A. Bentley sold 150,000 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $55.54, for a total value of $8,331,000.00. Following the completion of the transaction, the director directly owned 3,859,327 shares in the company, valued at approximately $214,347,021.58. This represents a 3.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 189,869 shares of company stock worth $10,564,887. Insiders own 20.56% of the company's stock.

Analyst Upgrades and Downgrades

BSY has been the subject of several research reports. KeyCorp increased their target price on Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. The Goldman Sachs Group raised their price objective on Bentley Systems from $42.00 to $47.00 and gave the stock a "sell" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Oppenheimer raised their price objective on Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Rosenblatt Securities downgraded Bentley Systems from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $53.00 to $58.00 in a research report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.60.

Bentley Systems Company 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.