Clearline Capital LP Acquires 5,912 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Clearline Capital LP lifted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,700 shares of the company’s stock after buying an additional 5,912 shares during the period. Clearline Capital LP’s holdings in Bentley Systems were worth $7,505,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BSY. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Bentley Systems by 3.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock valued at $778,832,000 after buying an additional 586,458 shares during the period. Swedbank AB boosted its holdings in shares of Bentley Systems by 24.2% in the third quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock worth $260,874,000 after buying an additional 1,000,000 shares during the last quarter. Impax Asset Management Group plc bought a new stake in Bentley Systems during the third quarter valued at approximately $88,771,000. Handelsbanken Fonder AB increased its holdings in Bentley Systems by 41.8% during the third quarter. Handelsbanken Fonder AB now owns 1,323,000 shares of the company’s stock valued at $67,222,000 after buying an additional 390,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Bentley Systems by 7.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,232,566 shares of the company’s stock worth $60,839,000 after purchasing an additional 85,565 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on BSY shares. Piper Sandler upped 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. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research report on Friday, November 8th. Finally, The Goldman Sachs Group reduced their price target on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Insider Buying and Selling at Bentley Systems

In other news, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the transaction, the director now 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 filing with the SEC, which can be accessed through this link. Also, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the completion of the sale, the director now owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. The trade was a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 326,032 shares of company stock worth $16,168,176 over the last quarter. Insiders own 21.12% of the company’s stock.

Bentley Systems Trading Up 0.7 %

BSY stock opened at $49.50 on Monday. The firm has a fifty day moving average price of $49.23 and a 200 day moving average price of $49.75. Bentley Systems, Incorporated has a fifty-two week low of $43.82 and a fifty-two week high of $57.19. The firm has a market cap of $14.39 billion, a PE ratio of 44.59, a price-to-earnings-growth ratio of 4.23 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $335.17 million during the quarter, compared to the consensus estimate of $340.36 million. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. Sell-side analysts anticipate that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is 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.