Paloma Partners Management Co Sells 9,202,521 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Paloma Partners Management Co decreased its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 99.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,487 shares of the company’s stock after selling 9,202,521 shares during the period. Paloma Partners Management Co’s holdings in Bentley Systems were worth $1,905,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in Bentley Systems by 4,618.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after buying an additional 508 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Bentley Systems by 90.1% in the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after purchasing an additional 273 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Bentley Systems in the 3rd quarter valued at about $30,000. Blue Trust Inc. lifted its stake in Bentley Systems by 68,500.0% in the 2nd quarter. Blue Trust Inc. now owns 686 shares of the company’s stock valued at $36,000 after purchasing an additional 685 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in Bentley Systems by 57.1% during the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares during the period. Institutional investors and hedge funds own 44.16% of the company’s stock.

Bentley Systems Trading Up 0.9 %

BSY stock opened at $49.97 on Tuesday. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. 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 company’s 50-day simple moving average is $49.23 and its 200 day simple moving average is $49.75. The company has a market capitalization of $14.53 billion, a PE ratio of 45.02, a price-to-earnings-growth ratio of 4.23 and a beta of 1.04.

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

Bentley Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is currently 21.62%.

Insider Buying and Selling

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 shares were sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 234,987 shares of company stock worth $11,667,821. Company insiders own 21.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BSY. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. Piper Sandler raised their price target on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Friday, November 8th. Finally, The Goldman Sachs Group reduced their target price on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

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.