Entropy Technologies LP Lowers Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Entropy Technologies LP decreased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 6.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,382 shares of the company’s stock after selling 691 shares during the period. Entropy Technologies LP’s holdings in Bentley Systems were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Venturi Wealth Management LLC grew its position in Bentley Systems by 61.5% during the third quarter. Venturi Wealth Management LLC now owns 8,743 shares of the company’s stock worth $444,000 after buying an additional 3,329 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of Bentley Systems by 3.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,161,146 shares of the company’s stock worth $58,998,000 after acquiring an additional 39,205 shares in the last quarter. Montanaro Asset Management Ltd boosted its stake in shares of Bentley Systems by 8.8% during the 3rd quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock worth $16,839,000 after acquiring an additional 26,741 shares in the last quarter. Fiera Capital Corp acquired a new stake in shares of Bentley Systems in the 3rd quarter worth approximately $42,773,000. Finally, Portside Wealth Group LLC increased its stake in Bentley Systems by 9.1% in the 3rd quarter. Portside Wealth Group LLC now owns 13,203 shares of the company’s stock valued at $671,000 after purchasing an additional 1,101 shares in the last quarter. 44.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BSY. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Piper Sandler upped their price target on shares of Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

Bentley Systems Stock Performance

Shares of BSY stock opened at $46.59 on Friday. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 41.97, a price-to-earnings-growth ratio of 4.04 and a beta of 1.04. The company has a 50 day moving average price of $49.40 and a 200 day moving average price of $50.20. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. 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 (NASDAQ:BSY) last issued its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Bentley Systems had a return on equity of 29.50% and a net margin of 27.73%. The business had revenue of $335.17 million for the quarter, compared to analyst estimates of $340.36 million. During the same period last year, the company posted $0.18 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.9 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Tuesday, September 17th. Bentley Systems’s dividend payout ratio is currently 21.62%.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Barry J. Bentley sold 34,987 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the transaction, the director now owns 12,213,248 shares in the company, valued at $590,754,805.76. The trade was a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of the sale, the director now owns 16,598,656 shares of the company’s stock, valued at approximately $820,471,566.08. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 326,032 shares of company stock worth $16,168,176. 21.12% of the stock is currently owned by company insiders.

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.