Bentley Systems, Incorporated (NASDAQ:BSY) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC trimmed its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,099,116 shares of the company’s stock after selling 62,030 shares during the period. TimesSquare Capital Management LLC’s holdings in Bentley Systems were worth $51,329,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BSY. Point72 Hong Kong Ltd acquired a new position in Bentley Systems during the third quarter worth about $30,000. Tobam acquired a new position in Bentley Systems during the fourth quarter worth about $55,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Bentley Systems by 71.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,105 shares of the company’s stock worth $107,000 after acquiring an additional 880 shares during the period. Anchor Investment Management LLC acquired a new position in Bentley Systems during the third quarter worth about $110,000. Finally, Blue Trust Inc. grew its holdings in Bentley Systems by 291.0% during the third quarter. Blue Trust Inc. now owns 2,682 shares of the company’s stock worth $132,000 after acquiring an additional 1,996 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares in the company, valued at $773,890,575.08. The trade was a 0.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 21.12% of the stock is owned by corporate insiders.

Bentley Systems Trading Up 1.0 %

Shares of NASDAQ BSY opened at $47.70 on Wednesday. Bentley Systems, Incorporated has a one year low of $43.82 and a one year high of $57.19. The firm has a market capitalization of $13.87 billion, a PE ratio of 42.97, a PEG ratio of 3.50 and a beta of 1.03. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average price of $46.81 and a two-hundred day moving average price of $48.42.

Bentley Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.50%. Bentley Systems’s dividend payout ratio is 21.62%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BSY shares. JPMorgan Chase & Co. started coverage on Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Friday, November 8th. Finally, Piper Sandler dropped their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.00.

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.