TimesSquare Capital Management LLC Sells 942 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

TimesSquare Capital Management LLC reduced its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 0.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,316,084 shares of the company’s stock after selling 942 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Bentley Systems were worth $68,726,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its stake in Bentley Systems by 70.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 14,259 shares of the company’s stock worth $745,000 after buying an additional 5,912 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Bentley Systems by 6.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 40,326 shares of the company’s stock worth $2,106,000 after buying an additional 2,571 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in Bentley Systems by 36.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,350 shares of the company’s stock worth $593,000 after buying an additional 3,039 shares in the last quarter. FORA Capital LLC purchased a new stake in Bentley Systems in the 1st quarter worth $211,000. Finally, Magnolia Capital Advisors LLC purchased a new stake in Bentley Systems in the 1st quarter worth $244,000. 44.16% of the stock is owned by institutional investors.

Bentley Systems Trading Up 2.3 %

BSY traded up $1.13 on Friday, hitting $49.93. The company had a trading volume of 970,613 shares, compared to its average volume of 1,341,698. The company has a market cap of $14.40 billion, a PE ratio of 46.66, a PEG ratio of 4.32 and a beta of 1.03. Bentley Systems, Incorporated has a 12-month low of $44.76 and a 12-month high of $57.19. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.53. The business’s fifty day simple moving average is $51.69 and its 200 day simple moving average is $51.06.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. The company had revenue of $337.76 million during the quarter, compared to analyst estimates of $335.00 million. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. Equities research analysts expect that Bentley Systems, Incorporated will post 0.85 EPS for the current year.

Bentley Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, June 4th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.24 annualized dividend and a yield of 0.48%. Bentley Systems’s dividend payout ratio is currently 22.43%.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 59,420 shares of Bentley Systems stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $55.01, for a total value of $3,268,694.20. Following the completion of the transaction, the director now owns 16,972,383 shares in the company, valued at $933,650,788.83. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Bentley Systems news, Director Keith A. Bentley sold 59,420 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $55.01, for a total value of $3,268,694.20. Following the completion of the sale, the director now owns 16,972,383 shares of the company’s stock, valued at $933,650,788.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the sale, the director now directly owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,390 shares of company stock worth $10,748,234. Corporate insiders own 21.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. William Blair assumed coverage on Bentley Systems in a research note on Thursday, March 28th. They issued an “outperform” rating for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a research note on Tuesday, April 30th. Piper Sandler restated an “overweight” rating and set a $63.00 price objective (up previously from $60.00) on shares of Bentley Systems in a research report on Wednesday, May 8th. Finally, Mizuho raised their price objective on Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Bentley Systems has an average rating of “Moderate Buy” and a consensus price target of $61.29.

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.