Baldwin Investment Management LLC Sells 10,350 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Baldwin Investment Management LLC decreased its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 24.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 31,935 shares of the company’s stock after selling 10,350 shares during the quarter. Baldwin Investment Management LLC’s holdings in Bentley Systems were worth $1,623,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of Bentley Systems by 4,618.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after acquiring an additional 508 shares during the last quarter. GAMMA Investing LLC increased its holdings in Bentley Systems by 90.1% in 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. Blue Trust Inc. increased its holdings in Bentley Systems by 68,500.0% in the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after purchasing an additional 685 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after buying an additional 276 shares during the period. Finally, Tortoise Investment Management LLC grew its position in shares of Bentley Systems by 75.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock worth $41,000 after buying an additional 358 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Price Performance

BSY stock opened at $49.22 on Wednesday. The stock has a 50-day moving average price of $49.29 and a two-hundred day moving average price of $49.88. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19. The stock has a market cap of $14.31 billion, a PE ratio of 44.34, a price-to-earnings-growth ratio of 4.24 and a beta of 1.04. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

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 company had revenue of $335.17 million during the quarter, compared to analysts’ expectations of $340.36 million. During the same period in the prior year, the firm earned $0.18 earnings per share. Bentley Systems’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities analysts forecast that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.24 annualized dividend and a yield of 0.49%. Bentley Systems’s payout ratio is currently 21.62%.

Analyst Ratings Changes

BSY has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. The Goldman Sachs Group decreased their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Piper Sandler boosted their price objective on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. One equities 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Insiders Place Their Bets

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the sale, the director now directly owns 12,298,230 shares of the company’s stock, valued at approximately $617,371,146. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction 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 represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 326,032 shares of company stock valued at $16,168,176 in the last three months. 21.12% of the stock is currently owned by corporate insiders.

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.