Clearline Capital LP Increases Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Clearline Capital LP increased its position in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 147,700 shares of the company’s stock after acquiring an additional 5,912 shares during the period. Clearline Capital LP owned approximately 0.05% of Bentley Systems worth $7,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Bentley Systems by 4,618.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock worth $26,000 after purchasing an additional 508 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Bentley Systems by 90.1% during 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 last quarter. Point72 Hong Kong Ltd purchased a new position in Bentley Systems in the 3rd quarter worth $30,000. Blue Trust Inc. lifted its stake in Bentley Systems by 68,500.0% in the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after purchasing an additional 685 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its stake in shares of Bentley Systems by 57.1% in the 3rd quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after acquiring an additional 276 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Raymond B. Bentley sold 91,045 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the sale, the director now directly owns 16,598,656 shares in the company, valued at approximately $820,471,566.08. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barry J. Bentley sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.20, for a total transaction of $2,510,000.00. Following the completion of the transaction, the director now owns 12,298,230 shares in the company, valued at approximately $617,371,146. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 326,032 shares of company stock valued at $16,168,176 in the last ninety days. 21.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on BSY shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. 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 note on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a research note on Friday, November 8th. Finally, Piper Sandler upped their price target on Bentley Systems from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.50.

Bentley Systems Trading Up 0.7 %

NASDAQ BSY opened at $49.50 on Monday. The firm has a market capitalization of $14.39 billion, a PE ratio of 44.59, a P/E/G ratio of 4.23 and a beta of 1.04. The stock’s 50 day moving average is $49.23 and its 200 day moving average is $49.75. Bentley Systems, Incorporated has a twelve month low of $43.82 and a twelve month high of $57.19. 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 (NASDAQ:BSY) last released its earnings results on Thursday, November 7th. The company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. Bentley Systems had a net margin of 27.73% and a return on equity of 29.50%. The firm had revenue of $335.17 million for the quarter, compared to the consensus estimate of $340.36 million. During the same period in the prior year, the firm earned $0.18 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. Research analysts forecast that Bentley Systems, Incorporated will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.48%. Bentley Systems’s payout ratio is 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.