Brown Capital Management LLC Sells 57,867 Shares of Bentley Systems, Incorporated (NASDAQ:BSY)

Brown Capital Management LLC lowered its holdings in Bentley Systems, Incorporated (NASDAQ:BSY) by 73.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,121 shares of the company’s stock after selling 57,867 shares during the quarter. Brown Capital Management LLC’s holdings in Bentley Systems were worth $1,073,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BSY. International Assets Investment Management LLC bought a new position in shares of Bentley Systems in the 3rd quarter worth $59,400,000. Montanaro Asset Management Ltd grew its position in Bentley Systems by 8.8% in the third quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock valued at $16,839,000 after purchasing an additional 26,741 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Bentley Systems in the first quarter valued at about $608,000. Clearline Capital LP acquired a new position in shares of Bentley Systems during the 2nd quarter worth approximately $6,999,000. Finally, Impax Asset Management Group plc acquired a new position in Bentley Systems during the third quarter worth $88,771,000. Institutional investors own 44.16% of the company’s stock.

Insider Buying and Selling at Bentley Systems

In other news, Director Barry J. Bentley sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.20, for a total value of $2,510,000.00. Following the completion of the sale, the director now directly owns 12,298,230 shares in the company, valued at $617,371,146. This trade represents a 0.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Raymond B. Bentley sold 91,045 shares of the company’s 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 transaction, the director now directly owns 16,598,656 shares in the company, valued at $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. Over the last quarter, insiders have sold 326,032 shares of company stock valued at $16,168,176. 21.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BSY shares. Piper Sandler boosted 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 issued a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research report on Friday, November 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Bentley Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Bentley Systems Trading Down 0.1 %

Shares of BSY stock opened at $46.69 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $13.57 billion, a P/E ratio of 42.06, a P/E/G ratio of 3.99 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. The stock’s fifty day simple moving average is $49.34 and its 200 day simple moving average is $50.07.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. As a group, sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Tuesday, September 17th. Bentley Systems’s dividend payout ratio is currently 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.