Bentley Systems, Incorporated (NASDAQ:BSY) Holdings Decreased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 322,042 shares of the company’s stock after selling 10,436 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Bentley Systems were worth $16,363,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Clear Harbor Asset Management LLC boosted its position in Bentley Systems by 1.5% during the third quarter. Clear Harbor Asset Management LLC now owns 15,335 shares of the company’s stock valued at $779,000 after purchasing an additional 220 shares during the last quarter. Advisor OS LLC boosted its position in Bentley Systems by 0.7% during the second quarter. Advisor OS LLC now owns 30,983 shares of the company’s stock valued at $1,529,000 after purchasing an additional 226 shares during the last quarter. Magnolia Capital Advisors LLC boosted its position in Bentley Systems by 5.4% during the second quarter. Magnolia Capital Advisors LLC now owns 4,895 shares of the company’s stock valued at $242,000 after purchasing an additional 249 shares during the last quarter. GAMMA Investing LLC boosted its position in Bentley Systems by 90.1% during the second quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after purchasing an additional 273 shares during the last quarter. Finally, WR Wealth Planners LLC boosted its position in Bentley Systems by 4.5% during the second quarter. WR Wealth Planners LLC now owns 6,435 shares of the company’s stock valued at $318,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Insider Buying and Selling

In related news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the transaction, the director now directly owns 16,598,656 shares in the company, valued at $820,471,566.08. The trade was a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Barry J. Bentley sold 50,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.20, for a total value of $2,510,000.00. Following the transaction, the director now owns 12,298,230 shares in the company, valued at $617,371,146. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 326,032 shares of company stock valued at $16,168,176. Insiders own 21.12% of the company’s stock.

Analyst Upgrades and Downgrades

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

Bentley Systems Price Performance

NASDAQ BSY opened at $46.59 on Monday. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month 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. The stock has a market capitalization of $13.54 billion, a PE ratio of 41.97, a P/E/G ratio of 3.89 and a beta of 1.04. The stock has a 50-day simple moving average of $49.40 and a 200 day simple moving average of $50.18.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $340.36 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. Research analysts anticipate that Bentley Systems, Incorporated will post 0.9 EPS for the current year.

Bentley Systems Announces Dividend

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

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.