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

TimesSquare Capital Management LLC decreased its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,099,116 shares of the company’s stock after selling 62,030 shares during the quarter. TimesSquare Capital Management LLC owned 0.38% of Bentley Systems worth $51,329,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its position in Bentley Systems by 4.3% in the fourth quarter. Venturi Wealth Management LLC now owns 9,123 shares of the company’s stock valued at $426,000 after acquiring an additional 380 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Bentley Systems by 9.8% during the fourth quarter. CIBC Asset Management Inc now owns 10,105 shares of the company’s stock worth $472,000 after buying an additional 902 shares in the last quarter. Valmark Advisers Inc. acquired a new stake in shares of Bentley Systems during the fourth quarter worth approximately $2,752,000. Fiera Capital Corp grew its position in shares of Bentley Systems by 13.2% during the fourth quarter. Fiera Capital Corp now owns 953,246 shares of the company’s stock worth $44,517,000 after buying an additional 111,433 shares in the last quarter. Finally, Equitable Trust Co. acquired a new stake in shares of Bentley Systems during the fourth quarter worth approximately $463,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Analyst Ratings Changes

BSY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company. Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Friday, November 8th. Finally, Piper Sandler reduced their price objective 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bentley Systems presently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Bentley Systems Stock Performance

BSY stock opened at $47.70 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization of $13.87 billion, a price-to-earnings ratio of 42.97, a PEG ratio of 3.50 and a beta of 1.03. Bentley Systems, Incorporated has a 1 year low of $43.82 and a 1 year high of $57.19. The stock’s fifty day moving average is $46.81 and its two-hundred day moving average is $48.42.

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Tuesday, December 3rd. Bentley Systems’s payout ratio is 21.62%.

Insider Buying and Selling at Bentley Systems

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