Prentiss Smith & Co. Inc. Takes $2.98 Million Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Prentiss Smith & Co. Inc. bought a new position in Bentley Systems, Incorporated (NASDAQ:BSY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 63,856 shares of the company’s stock, valued at approximately $2,982,000. Bentley Systems comprises about 2.0% of Prentiss Smith & Co. Inc.’s portfolio, making the stock its 23rd largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Bentley Systems in the 3rd quarter valued at $59,400,000. Principal Financial Group Inc. grew its stake 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 bought a new stake in shares of Bentley Systems in the fourth quarter worth about $8,413,000. Needham Investment Management LLC acquired a new stake in shares of Bentley Systems during the third quarter worth about $2,134,000. Finally, Mirabella Financial Services LLP lifted its holdings in shares of Bentley Systems by 1,155.0% during 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 related news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the completion of the sale, the director now owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 21.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Bentley Systems Stock Down 1.2 %

NASDAQ BSY traded down $0.56 during trading hours on Wednesday, hitting $46.02. 23,117 shares of the company traded hands, compared to its average volume of 1,161,386. 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 business’s 50-day moving average is $47.56 and its 200-day moving average is $48.64. The stock has a market capitalization of $13.38 billion, a price-to-earnings ratio of 41.55, a P/E/G ratio of 3.48 and a beta of 1.04. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19.

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

Bentley Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, December 3rd. Bentley Systems’s dividend payout ratio (DPR) is presently 21.62%.

Bentley Systems Company 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.