Clear Harbor Asset Management LLC Has $1.87 Million Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Clear Harbor Asset Management LLC increased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 160.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,991 shares of the company’s stock after acquiring an additional 24,656 shares during the period. Clear Harbor Asset Management LLC’s holdings in Bentley Systems were worth $1,868,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of Bentley Systems in the 3rd quarter worth approximately $59,400,000. Principal Financial Group Inc. grew its position in Bentley Systems by 20.5% in the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after acquiring an additional 34,871 shares during the period. Bar Harbor Wealth Management acquired a new position in Bentley Systems during the fourth quarter worth $8,413,000. Needham Investment Management LLC bought a new position in shares of Bentley Systems during the third quarter valued at $2,134,000. Finally, Mirabella Financial Services LLP boosted its stake in shares of Bentley Systems by 1,155.0% in the 3rd quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock valued at $5,018,000 after purchasing an additional 92,768 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $48.95, for a total transaction of $2,447,500.00. Following the sale, the director now directly owns 12,048,235 shares in the company, valued at approximately $589,761,103.25. This trade represents a 0.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Keith A. Bentley sold 69,573 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the sale, the director now directly owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BSY. Piper Sandler cut their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. started coverage on Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.29.

Bentley Systems Stock Down 1.2 %

NASDAQ:BSY opened at $45.44 on Tuesday. 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, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The stock’s fifty day simple moving average is $47.70 and its 200-day simple moving average is $48.74. The firm has a market capitalization of $13.21 billion, a P/E ratio of 40.94, a P/E/G ratio of 3.40 and a beta of 1.04.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) 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 analyst estimates of $340.36 million. During the same period in the previous year, the company earned $0.18 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts expect that Bentley Systems, Incorporated will post 0.88 earnings per share for the current year.

Bentley Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.24 annualized dividend and a yield of 0.53%. Bentley Systems’s dividend payout ratio (DPR) is presently 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.