Prentiss Smith & Co. Inc. Takes Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Prentiss Smith & Co. Inc. acquired a new stake in Bentley Systems, Incorporated (NASDAQ:BSY) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 63,856 shares of the company’s stock, valued at approximately $2,982,000. Bentley Systems comprises about 2.0% of Prentiss Smith & Co. Inc.’s holdings, making the stock its 23rd largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new stake in Bentley Systems during the third quarter worth $30,000. Central Pacific Bank Trust Division lifted its stake in Bentley Systems by 57.1% in the 3rd 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 in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Bentley Systems by 500.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $61,000 after buying an additional 1,000 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Bentley Systems by 71.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,105 shares of the company’s stock valued at $107,000 after acquiring an additional 880 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in shares of Bentley Systems during the third quarter valued at $110,000. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

BSY has been the subject of a number of analyst reports. Piper Sandler cut their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Rosenblatt Securities reissued a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. assumed coverage on Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and an average price target of $57.29.

Bentley Systems Trading Down 1.2 %

Shares of NASDAQ BSY traded down $0.56 during mid-day trading on Wednesday, hitting $46.02. 23,117 shares of the company traded hands, compared to its average volume of 1,161,386. The business has a 50 day moving average of $47.56 and a two-hundred day moving average of $48.64. The stock has a market capitalization of $13.38 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 3.48 and a beta of 1.04. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19. The company has a quick ratio of 0.52, a current 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 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $335.17 million during the quarter, compared to analyst estimates of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 earnings per share. On average, sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, December 3rd were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.52%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio is currently 21.62%.

Insider Activity

In related news, Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 21.12% of the stock is owned by corporate insiders.

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.