Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. decreased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,409 shares of the company's stock after selling 32,759 shares during the quarter. Thornburg Investment Management Inc. owned approximately 0.06% of Bentley Systems worth $8,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BSY. International Assets Investment Management LLC purchased a new stake in Bentley Systems in the 4th quarter valued at about $6,382,000. Handelsbanken Fonder AB raised its holdings in Bentley Systems by 5.0% in the 4th quarter. Handelsbanken Fonder AB now owns 793,900 shares of the company's stock valued at $41,426,000 after buying an additional 38,120 shares during the period. Raymond James & Associates raised its holdings in Bentley Systems by 2.8% in the 4th quarter. Raymond James & Associates now owns 1,119,244 shares of the company's stock valued at $58,402,000 after buying an additional 30,143 shares during the period. Victory Capital Management Inc. raised its holdings in Bentley Systems by 70.0% in the 3rd quarter. Victory Capital Management Inc. now owns 159,748 shares of the company's stock valued at $8,013,000 after buying an additional 65,780 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Bentley Systems by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company's stock valued at $1,091,604,000 after buying an additional 556,363 shares during the period. Institutional investors and hedge funds own 44.16% of the company's stock.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 17,021 shares of the business's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the sale, the director now directly owns 17,150,752 shares of the company's stock, valued at $943,291,360. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Keith A. Bentley sold 17,021 shares of the company's stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $936,155.00. Following the completion of the sale, the director now directly owns 17,150,752 shares of the company's stock, valued at $943,291,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Bentley sold 118,949 shares of the company's stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $55.01, for a total transaction of $6,543,384.49. Following the completion of the sale, the director now directly owns 17,031,803 shares of the company's stock, valued at $936,919,483.03. The disclosure for this sale can be found here. Insiders sold a total of 284,315 shares of company stock valued at $15,148,243 over the last ninety days. Insiders own 21.12% of the company's stock.

Bentley Systems Stock Up 0.2 %

Shares of BSY stock traded up $0.11 on Wednesday, reaching $55.60. 1,205,856 shares of the stock were exchanged, compared to its average volume of 1,304,402. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.53. The business's 50 day moving average price is $51.51 and its 200 day moving average price is $51.13. The company has a market capitalization of $16.04 billion, a price-to-earnings ratio of 51.96, a PEG ratio of 4.95 and a beta of 1.08. Bentley Systems, Incorporated has a twelve month low of $44.76 and a twelve month high of $56.43.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. Bentley Systems had a net margin of 28.09% and a return on equity of 32.62%. The firm had revenue of $310.64 million during the quarter, compared to the consensus estimate of $313.67 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The company's revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Bentley Systems, Incorporated will post 0.83 earnings per share for the current fiscal year.

Bentley Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 20th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This is a boost from Bentley Systems's previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.43%. Bentley Systems's payout ratio is 22.43%.

Wall Street Analyst Weigh In

BSY has been the topic of several research analyst reports. Piper Sandler restated an "overweight" rating and issued a $63.00 price objective (up from $60.00) on shares of Bentley Systems in a report on Wednesday, May 8th. Robert W. Baird increased their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 6th. Mizuho raised their price objective on shares of Bentley Systems from $57.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, May 8th. Rosenblatt Securities reaffirmed a "buy" rating and set a $60.00 target price on shares of Bentley Systems in a research note on Tuesday, April 30th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.29.

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.

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